How does an individual voluntary arrangement or IVA work?
IVAs or individual voluntary arrangement can write off some of your debts. But they’re not for everyone.

Guest article by Sarah Sperring of Talk About Debt

An IVA or individual voluntary arrangement is one debt solution that’s a formal alternative if you want to avoid bankruptcy - and so protect assets that would otherwise be lost. Typically these are your home and car. But there’s a lot of misunderstanding about what IVAs are and how they can help if you’re experiencing serious debt problems. We’ve spoken to the experts, including the debt charities we partner with, to bring you this straight-talking guide to IVAs.

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12-08-2013
12-08-2013
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The OFT is clamping down on ‘charging orders’ where lenders can turn unsecured debt into debt secured on your home.
The Office of Fair Trading found that some banks used charging orders for arrears of only £600.

If you owe money on your credit card or a personal loan the last thing you imagine is that your home could be at risk. But banks and card companies have the right to turn unsecured debts (which includes loans and credit cards) into secured debts, which means it's linked to your property. The way they do this is through charging orders. Now the Office of Fair Trading has criticised four lenders - including subsidiaries of high street names - for the way they’ve been using charging orders.

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23-11-2010
27-11-2012
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Your rights if the bailiffs call.
If you owe money, what can you do if a bailiff calls and what rights do debt collectors have?

The government is currently considering bringing in regulation of bailiffs, which would give people better rights when bailiffs are aggressive. Bailiffs and debt collectors (which aren't the same thing) have come in for a lot of criticism from charities (read this information on bailiffs from the mental health charity MIND). So what are your rights if you owe money?

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26-02-2012
27-11-2012
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The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice.
You should always obtain independent financial advice.