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This article is for information only. It does not constitute advice. Chase Saunders Ltd does not provide services for savings, investments, mortgages or insurance. You should seek advice on these areas from a qualified financial advisor.

An IVA is a "fantastic way out of debt"

Article Category: IVA (Individual Voluntary Arrangement) Help and Advice

Taking out an individual voluntary arrangement (IVA) is an effective solution to debt problems, it has been claimed.

Ian Richards, a spokesperson for the UK Insolvency Helpline - a professional network of lawyers and accountants specialising in debt solutions - said that IVAs were a great success of the Insolvency Act implemented by the 1986 Labour government.

Mr Richards noted that "the IVA is a fantastic way out of debt" and a "wonderful success story" of the legislation put into place just over 20 years ago.

However, he added that individuals who feel that an IVA is not for them way wish to pursue an alternative debt management route.

He predicted that "an increase in debt management" is to be witnessed by the industry, with a variety of solutions offering ways out of debt on offer to consumers.

Government figures for the second quarter of 2007 show that the number of bankruptcies decreased by 2.9 per cent in the second quarter, while 10,698 IVAs were taken out during this period.

For more information about IVAs call our advisors on 08000 122 118 for FREE, no obligation help and advice.


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Created on 21/11/2007 11:51:36
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