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IVA News
Bez Bankrupt for the Second Time
The 2005 Celebrity Big Brother winner has become one of the 15,651 Britons declared bankrupt in the first quarter of 2008.
IVA News posted on 10 July 2008
OFT Warns Over Misleading Bankruptcy Ads
The Office of Fair Trading has warned that companies are targeting IVA-holders with misleading mailings urging debtors to ditch the agreement and opt for bankruptcy.
IVA News posted on 20 June 2008
Company Insolvencies Increase While Personal Insolvency Falls Over Past Year
New Insolvency Service figures reveal a rise in the number of company bankruptcies since 2007, although individual insolvencies are gradually falling.
IVA News posted on 08 May 2008
New Code Agreed to Govern IVAs
The voluntary code of conduct seeks to give debtors more protection under IVAs but experts warn that the agreements are not suitable for everyone.
IVA News posted on 11 April 2008
IVAs and Bankruptcies Soar Across Wales
The Insolvency Service has found a huge rise in the number of Welsh householders struggling with debt and turning to bankruptcy or an Individual Voluntary Arrangement.
IVA News posted on 04 April 2008
Bank of England Watch and Wait with Interest Rates
In an attempt to balance inflation affecting food and fuel prices and a slowing economy, the Bank of England’s MPC decided to keep interest rates at 5.25 per cent yesterday.
IVA News posted on 07 March 2008
Tis the Season to be Stingy
A survey has found that up to £2.3 billion is wasted on unnecessary Christmas presents every year. Over three quarters of the people questioned admitted spending about £50 on gifts that were not used. With over 1 in 5 people spending up to £300 on their friends and family, many could put more money toward their IVAs to help get out of debt.
IVA News posted on 03 December 2007
Borrowers feel the bite as banks get tough on IVAs and the credit crunch
A report by PricewaterhouseCoopers LLP predicts that the credit crunch could lead to even tougher times next year if mortgage interest rates rise and consumers borrow more money as banks reduce support for IVAs, increase charges, and consider reintroducing annual fees for credit cards.
IVA News posted on 27 November 2007
HSBC, Halifax, RBS and others raise minimum IVA Payment
HSBC, Halifax, RBS, Natwest, Abbey and other banks have increased the minimum payment for IVAs from 25% to 40% of the outstanding debt.
IVA News posted on 16 November 2007