Latest Articles

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IVA's - the creditors' meeting

Once the groundwork has been done and the Insolvency Practitioner is satisfied that details are correct regarding a debtor’s income, outgoings, assets and debts and... Read more
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How much does an IVA cost?

There are always fees involved in an IVA. The Insolvency Practitioner is a professional who needs to be paid. Time and expertise are required in ascertaining the facts of an... Read more
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IVA's and bank accounts

Except for the very few, we all need a bank account. And for many entering an IVA, they owe their own bank. Either an overdraft, a loan or a credit card (or all three!). In such... Read more
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IVA's and the self employed

The self-employed are not immune from debt problems. In fact given the erratic nature of their income, often cash flow problems emerge – bills need paying on time, but... Read more
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Full and Final IVA's

When people think of IVA's they usually think of monthly payments over a number of years. But there is a different sort of IVA that is based on a lump sum offer. This applies to so... Read more
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IVA's and car finance

The number of cars on finance has rapidly increased in the past few years. PCP is now by far and away the largest method of such deals. It allows us to effectively rent a reliable... Read more
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Single or Joint IVA's

Of necessity, an IVA is a single debt solution. The letter “I” in IVA stands for individual. However when it can be demonstrated that a couple (married or co-habiting)... Read more
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IVA's and homeowners

For homeowners, an IVA may well be a much better option than bankruptcy. In bankruptcy the house is at risk – the debtor may have to come up with a lump sum representing the... Read more
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When an IVA is not the right answer

Income levels could be a reason for avoiding an IVA. As already mentioned, it is possible to have too little or too much income. Too little income may mean that a mi... Read more
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IVA - things to consider

·         Possible release of home equity – if not possible then often debtors are asked to make IVA monthly payments for 6... Read more
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Advantages of an IVA

·         Debt free in 5 years (occasionally IVA’s last longer but 5 years is the norm). ·     ... Read more
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What is an IVA?

IVA stands for an Individual Voluntary Arrangement. It’s a potential solution for people struggling with personal, unsecured debt. An IVA is a formal insolvency solution where deb... Read more
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IVA life stories - Choosing an IVA was a bad decision – Graeme’s story

Graeme did all the right things with regard to his debt. He researched options. He spoke to 3 different companies and didn&rsq... Read more
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IVA life stories - Refused a joint IVA – David & Sarah’s story (with a happy ending)

David and Sarah have been married for 5 years and during this time each had accumulated debt. Apart from their j... Read more
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IVA case studies - Admitting there was a problem – Brian’s story

Looking back, Brian was unsure why he had been so reluctant to admit there was a problem with debt. All debts were paid on time, and... Read more
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IVA case studies - A Full and Final IVA – Jane’s story

Jane explained that she had been struggling with debt since her late teenage years over 10 years ago. Overspending when she first was offered... Read more
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HOW TO SURVIVE AN IVA - A QUESTION OF SUPPORT

One of the moving stories in the book we recently published rgarded support during an IVA. The writer described the key role of friends in supporting and e... Read more
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HOW TO SURVIVE AN IVA - LIGHT AT THE END OF THE TUNNEL

Over and agin those in an IVA testify that there "is light at the end of the tunnel".  Many who enter an IVA have lived a long time in a stat... Read more
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HOW TO SURVIVE DURING AN IVA - WHAT IF MY IVA FAILS?

A surprisingly large number of IVA’s do fail before completion. Sometimes this is the fault of the debtor. They failed to disclose vital info... Read more
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HOW TO SURVIVE DURING AN IVA - CASH IS KING

Credit can be very seductive. Advertisers have made a fortune on the back of the buy now, pay later rhetoric. Interest free credit, 0% balance transfers, ca... Read more
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HOW TO SURVIVE AN IVA - GETTING THE RIGHT PERPECTIVE

The trials and tribulations of life in an IVA need to be set against a context of life before the IVA began. Many of our contributors have been hone... Read more
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HOW TO SURVIVE AN IVA - RELATING TO THE IVA COMPANY

The stories highlighted in this book have been largely unedited save for a few typo’s and grammatical errors. Stories have not been left out be... Read more
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HOW TO SURVIVE DURING AN IVA - MINIMISING OUTGOINGS

One of the common themes of the stories from those who have undertaken an IVA is the need to live within a stricter budget. This involves care in whe... Read more
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HOW TO SURVIVE DURING AN IVA - MAXIMISING INCOME

To be honest, it’s difficult to increase income during an IVA without it affecting the IVA payment level. This payment level is based on affordab... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Saving money

One of the main reasons people get into debt in the first place is that we have no emergency fund. When something essential goes wrong (boiler, car nece... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Further debt problems

Despite the many the many success stories – lessons learned, vows of no further credit, rebuilt credit files and mortgage applications acc... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA

Money management should be an essential part of our school curriculum. Thrust out into the world with its bewildering choices and endless opportunities, we need some pr... Read more
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HOW TO SURVIVE LIFE AFTER AN IVA - Money Matters

The American millionaire Rockefeller was once asked “how much money does it take to make someone really happy”.  “Just a little b... Read more
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IVA life stories - variation meetings worked for us - Omar’s story

About 7 years ago we got into a bit of financial trouble and every month we were struggling to make ends meet with hardly any money... Read more
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IVA life stories - from joint DMP to single IVA - John’s story

I found myself getting deeper into debt in 2010. I was in a relationship and my partner at the time just loved spending money that we ha... Read more