What is an IVA? Individual Voluntary Arrangements (IVRs) is a legally binding agreement between a creditor and a debtor which is initiated with the help of an Insolvency Practitioner (IP). It has proved to be one of the best ways to deal with unsecured debts such as store cards and credit card debts. In most cases, it last for five years. During this period, the debtor has to find mechanisms through which he or she…
The shifting economy has affected many people, workers and businesses across the country. But whilst times are certainly hard, there are options available to the majority of companies who are experiencing, what they perceive as, extreme business debt. From company directors to self-employed window cleaners and mobile hairdressers, the recession has caused many businesses to change the way in which they operate. As banks are offering a lowered rate on savings, the majority of their…
