Are IVAs Worth It?
When looking into how an IVA works, there are some features that do appear to be too good to be true, so it is understandable that some people are extremely cautious and even cynical when thinking about whether to proceed.
Debt Solutions FAQs
Is an IVA a Bad Idea?
Whether an IVA is a good or bad idea is largely dependent on your financial circumstances. Of course, every debt solution is going to have its advantages and disadvantages. These need to be considered and weighed up so that you can make an informed choice.
What Is a Full and Final Settlement?
A Full and Final Settlement is another name for a Debt Settlement Offer.
How Much Can You Negotiate With Debt Settlement?
If you are considering making a Debt Settlement Offer to one or more of your creditors, then the question of how much flexibility there may be in the negotiations may be at the forefront of your thinking.
What Is a Reasonable Settlement Offer?
If you have debt that you have found difficult to cope with, but are fortunate enough to receive a windfall of money, whether through inheritance or a release of equity etc. a Debt Settlement Offer can be a great, cost effective way of clearing it down and starting again.
What Are The Consequences of a Debt Relief Order?
For some, a Debt Relief Order can provide a great pathway out of debt. But it can have quite an impact on your life. Read on to find out what these areas of impact are and how they could affect you individual circumstances.
What Happens After 12 Months of a Debt Relief Order?
Once agreed, a Debt Relief Order (DRO) provides the candidate with a 12 month period, known as the ‘moratorium’. The idea is that, during this time, your creditors are unable to chase your debt and you are not obliged to make any payments. Read on to find out what happens once that 12 month period has ended.
What Is The Minimum Level For a DMP?
If you are looking for a debt solution to fit your needs, then the question of how much debt you have can make a big difference to which options will be applicable to you. Some debt solutions have minimum and maximum amounts.
Can I Do a Debt Management Plan Myself?
A Debt Management Plan is an agreement between you and your lenders/creditors and doesn’t need an Insolvency Practitioner to set up.
What Is An Advantage of Getting a Debt Consolidation Loan?
When considering a Debt Consolidation Loan, it is important to be aware of the advantages and disadvantages involved before you take the plunge. Debt Consolidation, involves taking out a loan in order to pay off several separate debts e.g. two credit cards and an overdraft.