The IVA Debt Repayment Crisis About to Hit Consumers In The UK
Tags: additional income, bankruptcy, cost of living, creditors, debt collection, debt management plan, debt relief, expectation, food prices, guidance, individual voluntary arrangement, individual voluntary arrangement iva, insolvency service, no doubt, solicitor, sudden wave, twelve months, uk households, wages, worries
The poor Individual Voluntary Arrangement (IVA) in the UK has been taking a beating in the last twelve months but new worries are afoot. Between the creditors hijacking this debt relief solution that falls under the control of the Insolvency Service, other creditors refusing to accept payments in an IVA and now this, we’ll have to have some pity on the IVA.
What Myvesta UK is seeing is a sudden wave of consumers that entered an IVA a year or more ago who can no longer afford their IVA payments. Many are stating they are afraid or reticent to talk to … Continue Reading
