Insolvency – What it is and how to avoid it
Here at simple-ivas, we know that managing debts can be problematic and an overwhelming experience. The threat of bankruptcy or insolvency is never pleasant but by speaking to simple-ivas about individual voluntary arrangements (IVAs) or a debt management plan is the first step to securing your financial future. Insolvency or bankruptcy proceedings can result for a number of financial reasons including:
• Defaulting on mortgage repayments
• Profound debt problems
• Inability to make debt repayments when due
The financial implications of declaring oneself bankrupt or entering into insolvency through debt problems can be quite significant and isn’t a decision that should be taken lightly. Just some ramifications of bankruptcy and insolvency include:
• Losing control of all assets
• Inability to obtain credit in the future
• Credit rating affected for years after annulment of debt
• Cannot act as a company director
Insolvency & Bankruptcy – The Solutions
Here at simple-ivas, we offer hassle free solutions that aim to eradicate debts and make threats of bankruptcy and insolvency a thing of the past. Through our debt management and individual voluntary arrangement (IVA) services, we help thousands of people avoid the stigma and financial implications of bankruptcy each year and hand back the reins on runaway debts. Our individual voluntary arrangement proposals have many benefits when it comes to stopping bankruptcy proceedings or declaring insolvency, which include:
• Writing off as much as 75% of debts
• Stopping interest payments
• Avoid losing assets such as home and car
• Becoming completely debt free in as little as 5 years
Insolvency & IVAs – Securing Financial Futures
Bankruptcy and insolvency can often leave an indelible black mark against a person’s finances but by opting for an individual voluntary arrangement from simple-ivas can prevent the financial uncertainty that results from bankruptcy. An individual voluntary arrangement from simple-ivas is a legally binding agreement that will see all parties concerned working together to create a future free from debt.
Steering clear from bankruptcy and insolvency is a hassle free 5 step process with simple-ivas:
1. Contact simple-ivas with your debt problems
2. Provide relevant debt documentation
3. We’ll speak to creditors to acquire approval for you individual voluntary arrangement
4. IVA receives approval from creditors; proportion of debt often written off
5. Become debt free and look forward to a stress free financial future
Threatened with bankruptcy or insolvency? Speak to simple-ivas
Here at simple-ivas we are delighted to offer expert advice from our team of debt management professionals who will find the right solution for you regardless of your financial circumstance. Having the threat of bankruptcy hanging over you is never a pleasant experience but an individual voluntary arrangement from simple-ivas can show you the light at the end of the tunnel and have you completely debt free within 5 years.
Don’t let debt dictate your life. Speak to simple-ivas about our individual voluntary arrangement and debt management plans. Just call 0800 031 9802 to speak to one of our debt advisors or email us on enquiries@simple-ivas.com.
See below for more information :-
New figures show that Plymouth has the largest number of insolvencies in the UK.
Insolvency activity has never been so high in the aviation sector, as more airlines file for bankruptcy.
Even before the credit crunch had been heard of, Northern Ireland was witnessing an unusual boom in insolvency cases.
If you're struggling with credit card debts, you could be an insolvency risk.
Insolvency is a route into financial rehabilitation - something that will become increasingly crucial as personal debt continues to debilitate millions in the UK.
Insolvency is an increasing problem for individuals and business in American and the UK as well as across the globe.
Yorkshire may be the UK’s largest county geographically speaking but it is also one of the most in debt. Insolvency is set to soar in ’08 and Yorkshire may be amongst the hardest hit counties.
The credit crisis that currently grips the UK has no sign of abating and the sheer size of debt in the country is astronomical. Insolvency numbers are expected to rise as debt levels have tripled over the last decade.
Scottish Premier League side Gretna F.C may be about to hear the full time whistle as the threat of insolvency looms large over. Gretna is just one of a string of teams who have been affected by insolvency in recent times.
The online gaming industry is big business in the UK but many are funding their online gambling through the use of credit cards. Experts warn this is a big financial risk and the threat of insolvency will affect many who gamble.
Despite the threat of record levels of insolvency in the UK in 2008, Brits are still using credit cards to make donations to charities. Tackling insolvency will be a key concern for many but it’s not stopping charitable donations.
The impending threat of insolvency that is omnipresent over those in debt across the UK hasn’t stopped many from dreaming of a white wedding. Many will pay for their wedding on credit but may not be aware of the repercussions.
Insolvency, bankruptcy, repossession. These will all happen in record numbers this year according to experts. The causes are many are varied but numerous experts are suggesting financial education is the root cause.
Buying a house is a massive step, not to mention financial commitment, in any persons life but an increasing trend in the miss-selling of mortgages amongst lenders has seen a spike in insolvency.
The issue of insolvency is a pressing one in the UK. Looking at the average characteristics of those in debt may spring a few surprises. Many in debt will see an individual voluntary arrangement as the best way to alleviate debt.
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