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IVAs can now assist people with debts of £12,000 or more - Individual Voluntary Arrangements (IVA) - My Financial Solutions

IVAs can now assist people with debts of £12,000 or more

Published on Friday, 18th of February 2011 by Iain Wrenshall. This article has previously been viewed 159 times and was last read on Friday, 18th of May 2012 at 17:56:38.

Changes in the fee structures charged by Insolvency Practitioners have raised the viability of IVAs now being possible for individuals with debts as low as £12,000. Prior to this recent change the perceived industry minimum to ensure the financial viability of an IVA was for the debt owed to be at least £15,000.

This recent change is to be welcomed as it raises the distinct possibility that more people will be honoutrable enough to pay off at least a proportion of their debt, rather than going bankrupt.

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