Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

Generally, a consolidation loan is usually recommended in cases of moderate debt problem where there is equity in your home, or where you can afford to make equal or higher monthly debt payments than you are currently making and your aim is to pay your debt off quicker.

Published in Debt Solutions Guide on Friday, November 19 2004 0 Comments

Bankruptcy is a ‘last resort’ solution in cases of a very serious debt problem, and can be brought on by a creditor or can be entered into by making a bankruptcy order yourself. If you enter into bankruptcy your assets will be sold and the proceeds used to cover your debt.

Published in Debt Solutions Guide, IVA Focus Features on Friday, November 19 2004 0 Comments

An Individual Voluntary Arrangement (or IVA) is an official debt repayment plan that in most cases includes the freezing of interest, reduction in the total amount of debt owing, and legal protection from lenders as long as the terms of the IVA are adhered to.