Clear Your Debts With An IVA
If you owe money to a variety of people, and are struggling to meet the repayment, you may want to consider entering into an Individual Voluntary Arrangement, or IVA. It is a legal contract entered into by you and your creditors to repay a certain amount of debt each month, for a period of no more than five years. In order to determine the monthly payment sum, your financial situation is considered along with how much debt is owed. The debts will be considered reconciled once the payment sequence is finalized. Any debt unpaid (based on the original amounts) would be voided.
Declaring Yourself Bankrupt – Some Facts
Believe it or not, the bankruptcy laws are there for your protection. The old days of companies, particularly credit card companies, rewarding people for loyalty have long gone and in the current economic climate financial institutions generally have only one interest – their bottom line. Declaring yourself bankrupt offers a way out.
Why Credit Repair?
So you’ve heard about repairing your credit, but you’re not sure whether you should bother. Is it a worth the effort? Well, we live in interesting times. Who would have thought that multinational banks and other global companies would be in the sort of financial difficulties that we hear about almost daily on the news. It is no surprise, with new lending no longer as freely available as it was only six months ago that you and I are more concerned about our financial position than previously. If you are still not convinced then here are five good reasons why you should not ignore the warnings and take action today.