IVAs 'can help to tackle debts'
IVAs 'can help to tackle debts'
Friday 14th November 2008
This week, the newspaper's money column states that an IVA can be a helpful method of debt management when "things really are tough" for cash-strapped consumers.
Citing recent data from the Insolvency Service, the newspaper notes that "more and more people are struggling with extreme debt problems", meaning more people potentially require an IVA to get back on an even keel.
With this in mind, the Mirror recommends that those with debt problems consult an expert about the possibility of using an IVA.
"They may be able to help you sort out debts without resorting to a formal arrangement," it explains.
IVAs can help debtors to avoid being declared bankrupt and having their home repossessed.
Figures from the Insolvency Service show that 9,746 Britons took out an IVA during the third quarter of the year – an increase of 3.3 per cent on the previous quarter.
News article brought to you by SimpleIVA – For confidential IVA help and advice.
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