- Total individual insolvencies have increased for the first time since the second quarter of 2014 according to Insolvency Service figures.Continue reading..
Consumer debt crisis shifting from unsecured borrowing to arrears in priority billsForecasts from influential bodies suggest that the consumer debt crisis maybe shifting from unsecured borrowing to arrears in priority bills.Continue reading..
Bankruptcies at lowest in 15 years
The Government’s latest report of Insolvency Statistics for the July-September quarter have revealed signs of a strengthening economy for individuals and companies in England and Wales, with decreases in formal insolvencies, including bankruptcies. 6% decrease in personal insolvencies 7% decrease in bankruptcies 9% decrease in IVAs 7% increase in debt relief order (DRO.) The number… Continue reading..
What Harrington Brooks is doing for its Wonga Customers
Wonga wrote off £220m of debts for 330,000 customers earlier this month after it was found to be using insufficient lending checks on borrowers. We have begun to identify which customers are affected and over the next few weeks we will have communicated with all customers who have a Wonga loan on their plan with… Continue reading..
Insolvency Reforms to Increase Industry Confidence
A number of changes within the insolvency industry have been recommended in a recent independent review, following criticism of pre packed administrations within the media. Pre-packed administrations are the process by which the business and assets of a failing company are prepared for sale by an administrator before formal administration takes place and their creditors… Continue reading..
The rewarding work of an IVA Case AdministratorMatthew Brassington is a busy IVA Case Administrator here at Harrington Brooks. His role involves assiting the Insolvency Practitioner with the supervision of cases once an IVA as been passed. Martin currently mainly deals with preparation of IVA variations.Continue reading..
Before you agree to an IVA, it is essential that you consider all of the IVA alternatives. Even if you do not qualify for an IVA, there are alternatives which are designed to help you with your debt problems. To discover which of the following IVA alternatives is best for you, please contact a member… Continue reading..
IVA Pros and Cons
Being made bankrupt or applying for an Individual Voluntary Arrangement has a tremendous impact on an individual’s personal finances. While there are advantages to each option, these should be entered into with as much knowledge as possible. Get professional debt advice from an organisation such as Harrington Brooks. There are other debt solutions such as… Continue reading..
IVA Debt Help: Saving you from filing for bankruptcy
If you are looking for an alternative to filing for bankruptcy, consider applying for an IVA. The Insolvency Act of 1986 requires borrowers to make formal payments to creditors through an insolvency practitioner when they propose an IVA. In the case of an IVA, the payments made to the secured creditors generally remain the same;… Continue reading..
Guide to the misconceptions of insolvency
Scared of bankruptcy? Heard nothing but horror stories about people struggling after filing for bankruptcy? Many times people have avoided filing for bankruptcy because they are too scared of the so called implications. Most of the time these negative rumours and stories are misplaced simply because of a lack of knowledge of the subject. Bankruptcy… Continue reading..
Can I Clear Debt with an IVA?
If you find it a struggle to meet minimum debt repayments and your unsecured debt level if over £12,000, you may be considering an IVA as your possible debt solution. An IVA (Individual Voluntary Arrangement) is a formal agreement between you and your unsecured creditors where you repay as much of your unsecured debt as… Continue reading..
Why An IVA Could Be Your Ideal Debt Solution
If you are considering your options when it comes to your debt, you may be trying to figure out your ideal debt solution. If you have a high level of unaffordable debt spread over multiple creditors, an IVA could be your idea debt solution. Individual Voluntary Agreements (IVAs) are often a suitable bankruptcy alternative for… Continue reading..
Help to Become Debt Free – IVA
If you are looking for a way to be debt free then you might be interested to know that there is legislation which can help you become debt free in as little as 60 months. This is known as an Individual Voluntary Arrangement (IVA) and is designed to offer a more practical alternative to bankruptcy…. Continue reading..
IVA Advantages & IVA Disadvantages
An IVA is a legally binding procedure between the debtor and their creditors. If you are considering an IVA, it is important that you are aware of both the IVA advantages and IVA disadvantages. IVA Advantages An IVA can write off unsecured debts that you cannot afford. Interest or charges frozen. You will not have… Continue reading..
Glossary of IVA Terms
Administration order Source: An Administration Order requires you to make monthly repayments to the court, who in turn distributes the funds to your creditors. The court charges an administration fee for this facility, typically 10% of your payment. During the Order’s effective term, your creditors must cease any correspondence and are forbidden from taking legal… Continue reading..
Debt Free IVA
If you are struggling with debt and you are looking for a debt solution then an IVA could be your key to becoming debt free. It was introduced as a way for those struggling with their debts to avoid bankruptcy. No other debt solution can write off any part your debt. An IVA Can Help… Continue reading..
Become Debt Free
If you are feeling stressed because of the amount of debt that you owe then you might think that it is impossible for you to become debt free – But we can help. One Advice are able to offer a number of debt solutions to suit your circumstances so you can look forward to a… Continue reading..
Individual Voluntary Arrangement – IVA
An IVA (Individual Voluntary Arrangement) could be your best solution to becoming debt free. If you can answer yes to the following questions then you may be eligible for an IVA: Have you got over £10,000 worth of unsecured debts? Do you have three or more creditors? Are you unable to keep up any minimum… Continue reading..
Debt Solutions from a Debt Management Company
Understanding the different debt solutions from a debt management company can be confusing. There can be a number of debt solutions on offer but it is essential that you fully understand the benefits which each debt solution can give you and what the advantages there are over alternate debt solutions. The different debt solutions are… Continue reading..
Is an IVA Right for me? Solve Debt Problems with IVA
Are you struggling with your unsecured debt? An IVA (Individual Voluntary Arrangement) might be just what you need to solve your debt problems and allow you to become debt free in as little as 60 months. If you are struggling with debt you are not alone, maybe people have fallen victim to the credit crunch… Continue reading..
Avoid Bankruptcy: 3 Simple Ways
Bankruptcy is an extreme debt solution and should only ever be seen as a debt solution in the last resort, there are a number of alternative debt solutions which you may want to consider. The reason why bankruptcy is not a quick-fix to your debt is because the short-term and long-term consequences of declaring bankruptcy… Continue reading..
Is an IVA a Good Bankruptcy Alternative?
Deciding upon the right debt solution is never easy, and you may ask yourself if an IVA is a good bankruptcy alternative or whether you should think about any alternative debt solutions. Even if your debt is unmanageable, bankruptcy does not need to be the answer as there are many long term consequences which cannot… Continue reading..