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  • Other Added - Personal Bankruptcy Slipping as Primary Insolvency Solution

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    ividual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number
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    With personal debt in the UK continuing to spiral out of control, more cases for personal bankruptcy will almost certainly be filed. However, the most feared of all financial procedures will soon become only the second most popular solution for personal insolvency.

    According to statistics from Credit Action, the number of people applying for an Individual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number

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    bankruptcy will almost certainly be filed. However, the most feared of all financial procedures will soon become only the second most popular solution for personal insolvency.

    According to statistics from Credit Action, the number of people applying for an Individual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number

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    cedures will soon become only the second most popular solution for personal insolvency.

    According to statistics from Credit Action, the number of people applying for an Individual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number

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    According to statistics from Credit Action, the number of people applying for an Individual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number

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    ividual Voluntary Arrangement (IVA) grew at a rate of 118% in 2006. The estimated number of insolvencies for 2007 has risen to 150,000 and for the first time ever, it’s been predicted that more of these will be serviced by IVAs than Bankruptcies.

    But is an IVA really a more effective tool for servicing insurmountable amounts of debt than bankruptcy? Obvious advantages are that in most cases, people who apply for an IVA manage to maint

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