Your money or your job

Debt Solution - IVA: IVA or bankruptcy

Some people can't go bankrupt without losing their job as well. Mr F, 29, was a banker whose contract of employment would have meant dismissal - had he sought bankruptcy.

A failed relationship had left Mr F with debts of £122,000 in his name.

We negotiated a ClearDebt IVA
where his creditors forgave 68% of what he owed. Over five years, he will only need to repay 32 pence of every pound he owed. Not everyone can get a deal this good - but it does show that creditors can be persuaded by personal circumstances and will accept realistic proposals.

Debt Solution - IVA: IVA or bankruptcy

For free bankruptcy advice to help you avoid bankruptcy please contact ClearDebt to discuss a
debt solution and for IVA advice..

Links to related ClearDebt articles:

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(Thu, 14 Feb 2008) Credit card users have been warned that many of the foremost providers in the UK do not clear the most expensive forms of debt first. Research by Moneysupermarket.com has found that the order of payment patterns used by financial service firms could leave people with credit card debts in the red for longer than necessary. In fact, ... more >>

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