Are you weighing up whether an IVA is the right option for you? If you’re struggling to cope with debt and you’d rather avoid the bankruptcy route, another option may be the Individual Voluntary Arrangement. An IVA is an alternative to bankruptcy and can be a better option if your money problems are temporary and you want to
Dealing with debts
Checking your credit rating can be essential; the key to all our financial decisions whether it’s getting a new mobile phone contract to applying for a mortgage, all seem to rely on this one major factor. Our credit rating is what lenders use to determine whether they want to provide us some form of credit.
Bankruptcy may be a consideration if you’re struggling to pay your debts. Although often seen as a last resort, declaring yourself bankrupt can take away some of the stress of debt repayments and may offer the most practical solution. However, it doesn’t happen overnight and there will be implications on your home and assets. Anyone who owes
Out of all the truly horrible household tasks, dealing with the family budgeting must surely be the worst. But also the most necessary. Here is some help on how to approach it, with the minimum of stress and anguish. So arm yourself with a notebook and pen and get down to business. Don’t forget the
Switching current accounts or opening a second bank account to escape bank charges that you simply cannot afford is sometimes your only option of escape. Imagine: You are thousands of feet above the earth in a propeller plane. Far below, the fields spread out like patchwork handkerchiefs. The roads look like pencil lines and you
If you’re already struggling to pay the bills or just break even every month, it can be hard to put money aside savings for a rainy day. There are often more pressing priorities and you might just hope that the rainy day never materialises. How much should you ideally have saved for an emergency and