Stop the Debt Cycle Without Bankruptcy

You can save yourself money, time, and headaches by finding out if you can qualify for an Individual Voluntary Arrangement which is the alternative to a publicly advertised bankruptcy.  The IVA is a private agreement between you and your creditors that allows you to repay your debt obligations over a period of up to 5 years, or in one lump sum if you so choose.  Qualifying is a process offered by an Insolvency Practitioner who assesses your debt situation then nominates you for an IVA.  This process is less expensive than bankruptcy and is not advertised to the public.  Many Insolvency Practitioners do not charge a upfront fee for their services but do charge a small fee for services once an agreement is made.  It is still less costly than a bankruptcy.

26 February 2009 | Business