Michael Chamberlain - Articles

Circumstances and Criteria for an Iva Eligibility
IVA eligibility depends on your personal and financial circumstances. In general terms, your personal debts should be over £15,000 and spread among 3 or more different creditors. You must be in a position to make reasonable monthly payments to your creditors. The level of your monthly contribution will depend on the amount of your debt and the surplus income available to you. You will usually need to be able to afford at least £250 a month. Read
By: Michael Chamberlain | 29/01/2008 | Debt Consolidation

Individual Voluntary Arrangements Pros & Cons
Individual Voluntary Arrangements, or IVAs were first introduced by the government under the Insolvency Act 1986 as an alternative to bankruptcy. The purpose of an IVA proposal is to help people in financial difficulty settle their debts in a more structured and manageable way. The use of an IVA as a way to solve your debt problems is available to anyone. Your ability to undertake an IVA is based on your financial circumstances and not your job or profession. Read
By: Michael Chamberlain | 30/10/2007 | Debt Consolidation