Which means that each creditor receives a fair share of the income you have available. The collector you owe the most in order to will get the biggest talk about of the money along with the creditor you owe the smallest amount of to will get the littlest share. Following on from my post regard doing an IVA to settle your debts with your creditors so that you could avoid going bankrupt. It is also possible that you could do a deal with your creditors of your own bat, meaning that you approach your creditors and ask them if they would [...] Read more »
Should You Consider an IVA
I have mentioned in a previous post about the DRO or Debt Relief Order for those people who have debts less than £15000, and who don’t have any substantial assets such as a house or savings. These have been available since April 2009 and can only be sought through an approved source such as the Citizens Advice Bureau. Now let us look at the I.V.A or Individual Voluntary Arrangement, on first sight of this arrangement it looks as if it could be your savior as it can be the last resort before bankruptcy, however it should be looked at with [...] Read more »