The current financial downturn has been ongoing for almost seven years, and was caused by banks and loan companies extending lines of credit to people beyond their capacity to repay them. This practice has been so rife that many people have had to declare bankruptcy, or foreclose on their mortgages and have their homes repossessed. In an attempt to create a fairer solution to the problem, government legislation has asked companies and borrowers to share responsibility. The IVA Help Service is a new online resource that explains this process in detail.
An IVA, or Individual Voluntary Agreement, is a legally binding agreement between a debtor and his or her creditors to pay back an agreed portion of their debt over a set period, with the remainder of the debt being wiped off. The IVA Help Service explains how this is possible in detail, as well as providing advice and guidance on eligibility and application.
The new site (http://ivahelpservice.co.uk/) also describes the precedent for the government legislation and the rights that those in debt are able to defend in seeking such an agreement, being entitled to be treated in a reasonable and humane way. All the information on the website is written in easy to understand plain English, explaining practical steps to be taken so individuals can move immediately toward a life without debt.
A spokesperson for IVA Help Service explained, “We are delighted to launch this site and are very hopeful for its future, and perhaps paradoxically look forward to the day when it is no longer needed. Right now, there are people everywhere struggling with debt that has spiralled out of control, and an Individual Voluntary Agreement can help them bring their financial future back from the brink. Our website helps people understand how this is possible, and what first steps to take to achieve it.”
About IVA Help Service: The IVA Help Service is a newly launched online resource centre containing facts, information, advice and guidance on securing an individual voluntary agreement to consolidate and underwrite debt as supported by current government legislation. The site is written in jargon free plain English so that everyone can take active steps to relieving their burden of debt.
Visit http://ivahelpservice.co.uk/ for more information.
Name: Ravi Keeran
Organization: IVA Help Service