However, it is important that people know the facts and so our IVA Report is designed to provide information for those who are looking for a way out of their serious debt situation.
(PRWEB) February 26, 2006
The IVA Report, a guide to Individual Voluntary Arrangements, has been released by debt advice experts The Debt Counsellors.
The IVA Report is an in-depth look at IVAs as a viable solution to insolvency in the United Kingdom, which is a growing problem.
Record bankruptcy figures were recently announced for the fourth quarter of 2005, with 13,501 bankruptcies filed during that period alone, and many in the debt help industry are predicting 100,000 bankruptcies for 2006.
However, the IVA, or Individual Voluntary Arrangement, offers an alternative to bankruptcy and The Debt Counsellors’ IVA Report provides clear and concise information on the process.
With an IVA, many of the undesirable aspects of bankruptcy can be avoided, whereby a reduced debt is paid off in instalments over five years without financial restrictions or loss of assets.
John Porter, a senior counsellor with The Debt Counsellors, believes it is important that people with serious debt problems know there are ways of avoiding bankruptcy, such as the IVA.
Porter said: “The IVA is not for everyone but in many cases it is preferable to bankruptcy as a solution to insolvency.
“However, it is important that people know the facts and so our IVA Report is designed to provide information for those who are looking for a way out of their serious debt situation.”
The Debt Counsellors’ IVA Report can be viewed at http://www.debtcounsellors.co.uk/reports/iva-report.html
For more information on debt counselling and debt advice, visit http://www.debtcounsellors.co.uk/