Archive for the ‘IVAs’ Category

TweetShareOn reporting its first financial figures recently, the Money Debt & Credit Group indicated that it anticipates more and more Brits will turn to IVAs as a way out of their mounting personal loan and credit card debts. Part of the reason for the assertion is incoming legislation, which will mean IVAs are approved if [...]

TweetSharePeople should make sure they are aware of the potential implications of entering into either an Individual Voluntary Arrangement (IVA) or bankruptcy arrangement, suggests James Jones, consumer affairs manager at Experian. Advice from impartial professionals can prove invaluable in such instances and credit consumers must not enter in to an IVA lightly, Mr Jones continued. [...]

TweetShareIndustry ought to “take account of and look to try to tackle” the tendency among consumers to find credit management an impossible task, Mr Jones suggests. But the finance expert did maintain that for the most part British credit consumers are able to manage their debts without the need for Individual Voluntary Arrangements (IVAs) or [...]

TweetShareIn the past four months fewer people have entered into IVA agreements with creditors as a result of an overall stabilisation in personal debt levels, according to PricewaterhouseCoopers (PwC). The accountancy firm, which considers about 50 per cent of IVA proposals on behalf of lenders, stated that its records showed a month-by-month decrease in the [...]

TweetShareSpeaking in the wake of Citizen’s Advice figures indicating that the number of people looking for debt advice has risen 15 per cent in 12 months across England and Wales, Mr Ketchell claimed banks tend to be willing to help when his organisation gets involved. “Generally most creditors, when they realise someone is in a [...]

TweetShareJames Alexander, co-founder and chief executive of online marketplace Zopa, claims that securing massive profits at the expensive of consumers – an increasing number of who are now turning to Individual Voluntary Arrangements (IVAs) or declaring bankruptcy – has become “institutionalised standard practice amongst the big banks”. Collective pressure applied to banks by their “long-suffering [...]