In the vestibules and pulpits of the UK’s churches, debt has rarely been something preached about. However, the CofE has now dedicated time to the issue of debt. Many in the UK turn to an IVA to stave off the risk of insolvency.
Credit cards, repossessions, credit crunches. Not issues that are usually associated with the Sunday sermon. However, the CofE has seen the massive increase in debt and insolvencies across the UK and the stress that this causes and aim to ease the burden with some sagely advice. When the threat of bankruptcy looms large, most people will choose to file for an IVA, as this is a legally binding agreement that will see all debt eradicated upon successful completion.
IVA – Divine Intervention
The levels of insolvencies are set to soar in 2008 and the best solution for those whose debts have spiralled out of control is invariably considered to be an IVA or individual voluntary arrangement. The CofE have on their website a raft of practical advice regarding the issue of debt and stress the spiritual importance of remaining free from debt. With an IVA, the unsecured debt that a person owes is repaid over a reasonable and fixed period of time and any interest and debt charges will be frozen and creditors will no longer be allowed to request additional payments. Once the IVA has been successfully completed, the individual will be free from debt and be on a more secure financial footing.
IVA – Tackling A Growing Problem
The statistics on insolvency, debt and repossessions makes unpleasant reading and the CofE have taken it upon themselves to advise their parishioners about the pitfalls of debt. The stats show that 18% of adults in the UK have unsecured debts of £10,000 or more. This represents an increase of 30% on 2006's figures. As such, many are unable to make financial ends meet and teeter on the brink of bankruptcy. Most in this situation will opt to take out an IVA as it is a legally binding agreement that facilitates those in debt to make a formal proposal to settle their debts.
Talk To Varden Nuttall About IVA
Varden Nuttall has been established for over 15 years and is dedicated to helping people in financial difficulty find a debt management solution through an Individual Voluntary Arrangement (IVA). Employing 90 people, including trained and skilled IVA administrators, we are one of the largest IVA companies in the UK and handle over 3% of all IVA applications. To find out more about the company, or to make an appointment to talk about putting an IVA in place, call us today on 0800 031 9802 or fill in our online enquiry form.