Not so long ago, it would have been possible to entertain a date and still see change from a twenty pound note. These days are long gone and many are falling into a pit of debt from the increasing costs of living and wooing potential partners. Debt is a massive issue in the UK at present and insolvency levels are expected to soar in 2008 as consumers struggle to keep a handle on their finances. In terms of debt resolution, many will turn to an individual voluntary arrangement (IVA) when it comes to getting their finances back on track.

IVA – Romance Finance

In the current credit crisis in the UK, it is recommended that consumers tighten their belts considerably in order to not fall into the red with repayments. However, research from National Savings & Investments (NS&I) has discovered that people are spending quite considerable amounts when it comes to impressing the opposite sex. The study found that men expect to spend in the region of £50 on a first date whereas women anticipate spending around £30. This can create a significant financial dent when an individual's finances are teetering on the edge and often is an expense that can be ill afforded. Many financial experts recommend an IVA when it comes to tackling debt problems as an IVA is a legally binding agreement between a creditor and the individual in debt to pay back their financial arrears in an acceptable time frame and rate.

IVA – Making The Most of Your Money

The research carried out by National Savings & Investment discovered that as many as three quarters of men overspent when buying a meal for a woman and that a quarter would pay the bill on credit card. This can create financial problems and many struggle as it is to repay monthly credit bills and this additional cost may be the straw that breaks the camels back. Many who are experiencing financial difficulty will find that an IVA is the ideal way to see themselves to financial security and make their debt management problems a thing of the past.

IVA Solutions with Varden Nuttall

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 0870 977 8100 or fill in our online enquiry form.