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Private Financial debt Aid – Why Being Proactive About Private Debt Aid Is So Essential By: meena jha About the Author The Writer is research analyst with Financial Solutions, which is an organization that helps overextended consumers with manageable debt settlement plan. For more information click the link www.uscaonline.comdebt settlement (ArticlesBase SC #3617740) Article Source:...more
To most of the individuals, who had accumulated debts in large number, finding a solution to the problems will never be that easy. Adding to the chaos is the harrowing calls of the creditors, day and night. The situation turns chaotic and it might even occur to the debtors, so as to declare bankrupt. Under the prevailing circumstances, taking such a step is the only logical solution. However, there are other ways through which the debtors can manage the debts. In this context, seeking Advice IVA seems to be the most perfect way, so as to overcome the problem of debts without any hassles. IVA or individual voluntary agreement is a legally binding agreement, which is signed between the creditor and the debtor and overseen by an insolvency practitioner. The agreement is valid for a period of 5 years, where in the debtor is required to make up to 75% of the amount availed and the remaining amount is written off. In order to avail the service of IVA, you need to be a permanent resident of UK and that your age should be more than 18 years. While providing the details to the practitioner, it is important that the information offered should be accurate. Moreover, it is important that you...more
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