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Wednesday, October 28, 2009

Can I Sort Out My Finances Without An IVA?

By Edward Woodwards

Debt is something that most of us deal with in our daily lives. With the extensive use of credit cards and taking on too much loans, debt becomes a serious issue.

To tackle this debt problem efficiently, you definitely need to consult an expert for guidance. Individual Voluntary Agreement (IVA) is another option one can have to manage debts. IVA reduces the payments of the debtor much lesser than he actually has piled up after borrowing from the creditor.

Although an IVA is a good option for dealing with debt, it may not be suitable for everybody. With an IVA, you have to make regular payments every month, and in order for your proposal to be accepted, it has to appeal to your creditors. If an IVA does not seem to be the best option for you, you can consider some alternatives.

Since most of us are not aware of all the laws and legal actions regarding debts, it is a good idea to get advice from experts. A good decision would be to visit a debt management company, which can offer consultation for all your issues.

These company experts assist you in being clear about your choices regarding the management of your debt. They guide you through ways to reduce your expenses through credit cards and accounts, and also tell you about the various ways to get debt-free as soon as possible. The debt management companies have their websites online so, you can search them through internet as well.

Many of the organizations in the UK provide free counselling to manage your accounts. Free telephonic counselling is provided by the National Debt Line. Moreover, Consumer Credit Counselling Company also provides free online or telephonic help.

This organization offers an Online Debt Remedy service which inquires some information about you and your financial conditions and provides you with the best possible solution to your problem in just twenty minutes. Further, you have free city councils in all cities of the UK that entertain your queries and guide you through for free. Special grants are given to the disables. Moreover, you can look out for websites offering free slide download regarding how to manage your accounts and debts payments. Your life becomes really systematic when you actually practice these procedures.

An IVA is a good alternative to bankruptcy, and can help those who do not have any other option. However, it is important to remember that it is a big commitment, and it takes time to get rid of your debts. Thus, it is essential that you explore all the choices available before making a decision. Make sure that you get expert advice before selecting a plan, so that you can make an informed decision. - 23211

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