Archive for the ‘IVAs’ Category

TweetShareNew figures from the Insolvency Service show insolvencies in the first quarter were up for both individuals and companies, as bankruptcies and Individual Voluntary Arrangements (IVAs) soared. Individuals accounted for 23,351 individual insolvencies in England and Wales in the quarter, a staggering 73.4 per cent rise on the same period in 2005. This included around [...]

TweetShareAndrew Smith, marketing director of the debt assistance firm ClearDebt, commented that a reduction in IVA fees for those seeking to pay off smaller debts could make the IVA an option for more people. The debt advice bureau points out that a disadvantage of the IVA, as it currently stands, is that it is often [...]

TweetShareClearDebt welcomes the proposals made on April 5 by the Insolvency Practice Council (IPC) for enhanced ethical standards for Individual Voluntary Arrangements (IVAs) – but thinks they should have been tougher: Commenting, ClearDebt CEO, David Mond, said: “We think that, in two key areas, the IPC should have gone further. First, we agree that face-to-face [...]

TweetShareFrom the article: ” A new study offers a grim picture of the number of women going bankrupt or entering a legal repayment plan with creditors, known as an Individual Voluntary Arrangement(IVA). The figure rose from 11,900 in 2002 to 17,260 last year and is predicted to reach 26,500 this year – a rise of [...]

TweetShareSince we went online we’ve managed to arrange IVAs for people who owed a total of £2,773,000 and we’ve reduced their total debts to £1,007,000. That means, on average, our clients only have to pay 36% of their total debts over the period of their IVA. ClearDebt is really proud of this result. We are [...]