What Is IVA

When individuals in debt in the UK hear that they should consider an IVA, a common question is most likely, what is IVA? An IVA is an Individual Voluntary Arrangement and is very popular in UK, Spain, and Europe. They are sometimes used in Mexico as well. These arrangements are usually made when an individual has a large amount of debt that is difficult to repay. An IVA often allows them to consolidate their debt into one bill after consultation with a IVA debt management consultant.

What is IVA can be one of the best questions to ask when you are burdened with huge amounts of debt. IVA debt management specialist can negotiate with your creditors and get them to lower interest rates and greatly reduce the overall amount of the loan or other debt by as much as 70% at times. This is a huge potential savings to individuals who have accumulated large amounts of debt. Indeed, the individual voluntary arrangement or IVA debt can help to save you thousands of dollars in interest and other repayment cost. What is IVA should be one of the first questions you ask your debt management adviser.

An IVA will save you money and allow you to keep important assets. Your home and other assets won’t be put at risk when you seek help for your debt. The purpose of an IVA is to reduce debt and make payments more affordable through consolidation. A team of accounts is usually available to assist you as you get your finances in order. Debt management consultants work to freeze the interests on your loans and credit card debt. What is IVA? It depends on what you make it. For many, it is the difference between being burdened by debt and living comfortably.

So if you are burdened by debt, you should consider visiting an IVA debt management consultant and don’t forget to ask them, “What is IVA?” You should compare multiple companies to make sure you get the best deal. Also, check references and make sure that the company that you choose is a legitimate one. Checking references can also help you set reasonable expectations about what the company can do for you.

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UK IVA Rules and Legislations

In UK IVA which is an acronym for Individual Voluntary Agreement is a debt solution which can write off a percentage of the total debt. In some cases, the amount written off can reach 60 to 70 percent of the total debt amount.

UK IVA is an option available for all individuals, single traders and partners. This debt solution is often availed by the debtor to quell creditor pressure. Those who own their property such as a house will not lose their personal assets once UK IVA arrangements are drawn unlike in bankruptcy cases.

For sole entrepreneurs and partners who do not want to lose their business, a UK IVA is the best way to ensure that the business will go on trading. This is a great debt solution especially if the business has a good chance of recovery. Also, if the business recovers and earn them profit, they can use it as repayment for their debts.

UK IVA is a procedure introduced by the government to help debtors draw formal agreement with his creditors so he can make affordable monthly repayment. UK IVA rules and regulations require that the debtor must first apply for it in court.

If the court approves the application, the next step is to hire an Insolvency Practitioner. If you do not know anybody, the court can provide you a list of local practitioners or associations.

The appointed Insolvency Practitioner must file the interim order application in court. The interim order will prevent the filing of bankruptcy by creditors and will ensure that all the creditors actions merit court approval.

The Insolvency Practitioner will then forward the debtors proposal on how he will pay the debt and how much of the debt he wants to be written off. There are various factors considered to be able to come up with the amount to be written off in the proposal.

One factor is the present situation of the debtor. Another is the amount he owed to creditors. And lastly, what amount he is able to pay.

The Insolvency Practitioner will then arrange a meeting between the debtor and all his creditors. For the meeting to be valid, the creditor attendees must make up 75 percent of the total debt.

The debtor must convince the creditors to sign the UK IVA proposal containing the amount of debts to be written off. Once it is signed by both parties, the amount cannot be changed and it becomes legally binding.

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Is It Possible To Gamble Online While Still Being Frugal

Now here’s a question that really targets our love of finance and our love of being at the casinos: is it possible to gamble online while still being frugal?

If you’re worried about this, you’re not alone. The cooling global economy has really put a damper on a lot of entertainment activities. There was a time where you really could just let your hair down and have a good time. However, that’s no longer the case. You have to always maintain a high level of awareness about the world around you. It’s tempting to splurge and spend money that you don’t have, only to find that you have to pull money from other areas to make things work out. That’s no life that anyone would choose to live, yet we find ourselves living that type of life because we just didn’t see it coming.

Friends, it’s time to think about more than just having a good tie. Still, that doesn’t mean that you can’t have a good time. It just means that you’re really going to have to think things through a lot more than you might have in the past. It just means that you’re going to have to be a little strategic.

Being Frugal
First and foremost, this guide assumes that it is legal to gamble online where you are. That said, there are plenty of great casinos out there. Not all of them will accept you depending on where you are, but you have to figure that one out on your own.

As long as you set limits, it is perfectly possible to get what you’re looking for.

You might set a monthly budget for your gambling, as if it were an expense in your budget. You want to have a little sheet for all of your entertainment. If you are going to add gambling to the overall entertainment budget, you should realize that you’re going to have to limit your spending in other areas of entertainment. You might have to cut back on dining out in order to make room for gambling in your life. Of course, there’s nothing that is going to require or force you to do this, but it makes sense to do what you can, while you can.

The best thing that you can honestly do is make sure that you are looking carefully and closely at all of your expenses. If gambling can be pulled off without sacrificing anything essential, then there’s no reason why you couldn’t do it. On the other hand, you definitely want to ensure that you’re really thinking things through if you can help it. It’s tempting to just throw up your hands and do whatever feels good, but chances are good that you have some other goals that you’d like to maintain.

Don’t lose sight of what’s important, but it’s also essential that you have some fun. Life is very short, and no one can just pay bills without having a good time at least once in a while. Check out online gamboling for yourself and remember — as long as you are wise about money, you’re bound to have just as good of a time as everyone else…if not more so!

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The UK Housing Crisis: A Political Problem

A leading think tank has called for the UK to build more houses in order to cope with the current housing crisis in the UK. Arguably beginning in the mid 00s, the burst of the housing bubble has made it all but impossible for a new generation of professionals in their 20s and 30s to get onto the housing ladder. Rent prices are reportedly going astronomical in 2013 and landlords are making a big fat profit.

The average person is losing out in this housing debacle and benefits cuts are leading to a new crisis of homelessness across the UK, with more people sleeping rough and food banks pushed to breaking point. This is particularly acute when more and more reports are detailing the numbers of children who are going hungry at school.

UK Housing Crisis
Charities campaigning against poverty have pointed out that the only meaningful way for the government to reduce poverty in the UK is to force employers to pay above the current average in the UK – that means raising the minimum wage from £6.18 an hour.

Meanwhile, Chancellor George Osborne has made vague promises to build new housing in the UK.  He has made looser planner regulation an important part of his platform. But not everybody is happy about this promise from the unpopular Chancellor.

The debate over where to build will always be a perennial problem with the ‘nimby’ attitude rampant and those keen to solve the housing crisis butting heads with those who understandably want to preserve what little greenery England has left.

The IEA has reported that new build housing could bring housing costs down as much as 40%. A dramatic reduction of this kind would certainly open the door for many people who might have given up dreams of ever owning a property.  Companies such as www.riftuk.com can help with the taxation side of buying a property.

Owning your home has become a symbol of ‘arriving’ as a serious adult in the UK. Not every culture has such a strong tradition of home ownership, which has led some in the UK to argue that perhaps we put too much onus on owning property as a society. By contrast, Europeans are less likely to find property ownership so important.

Young people are the most pessimistic about the situation, especially the generation that graduated university after the financial crash. A survey found that most people between the ages of 18 and 30 believe that they will never be able to afford to buy their own home at all.

Sneaky Labels PPI Can Hide Under

Knowing PPI means that you need to know your enemy, how it was created, and how to fight back. If you think that PPI isn’t in your loan just because it’s not called payment protection insurance, you might be in for a surprise. Some people really don’t think about PPI in this way. They only think about the fact that time has passed since they had the loan. They think about the sheer size of the lender, and they realize that in comparison…they are very small indeed. Yet this is the wrong attitude to take. You need to realize that you’re much more powerful than you think. The media has done a great job of replying to the PPI scam — and in a way that has gotten the lenders to pay attention. They know that they need to pay those claims back out. However, instead of just doing the right thing, they’re going to still make people step up to get their money back. This means that if you’re afraid to speak up, you’re going to get left behind.

Let’s go back to talking about those labels. PPI is often called loan care, loan protection, or even loan cover. Either way, this doesn’t mean that the policy is actually a good thing. You could end up paying good money for a policy that was never designed to cover you in the first place. This isn’t to say that all insurance is like that. If you were to get into an auto accident, your car insurance is going to cover you if you have the right policy already set up. To do anything otherwise would end up with millions of insurance buyers throwing their voices towards changing that policy!

What you need to do is take your paperwork in to a PPI solicitor for further review. The legal side of this is a lot more complicated than you could possibly imagine. You need to make sure that your rights are being protected. If you were to go it on your own and then have someone cut you out of the premiums you were promised…wouldn’t that make you feel bad? Wouldn’t that make you feel cheated? It’s just not worth it. You’re a lot better off thinking about the bigger picture, and that’s going to be a matter of getting a good solicitor on your side right away.

Take in what paperwork you can, and explain your case. They’ll take it from there — you can count on that! Good luck!

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Surprise Your Child with a Junior ISA!

The Individual Savings Account (ISA) is still around, and it’s looking better and better. As the economy worsens, it’s time to step back and think about how to protect your family. Of course, many financial guides for the UK touch on this, and encourage you to save. Yet there’s one “gap” that keeps coming up, and we think that it’s time to address it: your children.

You see, saving for the future isn’t something that should be limited only to you and your spouse. It’s something that needs to be taught to our children as well. When children live in a home where good personal finance principles are actually acknowledged and addressed on a regular basis, they are a lot less likely to fall into negative habits that ruin their financial futures. With the credit market cooling, it’s becoming more and more important to be able to have a good credit rating. Savings and borrowing go hand in hand — the more that you can save, the easier it will be to ultimately get what you desire. If you’re thinking about pushing forward into a new financial future and you want to set a good example, Junior ISAs are a good way to go.

You might not recognize the savings program for children, because you might still remember the Child Trust Funds (CTFs) of the past. That program has been phased out and the Junior ISA is the new way to go.

Only the parent or legal guardian of a minor can open up an ISA — but grandparents can deposit money into the account once it’s been opened. Like the regular ISAs, the money deposited is allowed to grow tax-free, and the amount you put in there isn’t subject to tax either. This is a great way to lower taxable income, and it’s an even better way to ensure that your children are safe and taken care of.

It’s also an education thing. Children will get interested in saving if you teach them that it’s a good idea from the very beginning. They can set aside their money over time and you can deposit it into their Junior ISA.

You can also have multiple Junior ISAs, a cash one and an investment one. However, you must make sure that the total limit is respected. The limit increases every year, but it is roughly 3600 pounds per year at the time of this writing.

When your child turns 18, the account will be automatically turned into a standard adult ISA — there’s no paperwork for you to really do. No money can actually be withdrawn by anyone until the child is 18 — then the money is theirs to do with what they wish.

If you’re looking for a good savings vehicle for your children, you really can’t go wrong with the Junior ISA structure — it just works that well!

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Payday Loans v Financial Ruin

Much has been said about the practice of payday loans in recent years. The emergence of companies such as Wonga has sparked a wave of debate and criticism and with the internet providing these businesses a platform from which to advertise their services and seek out new customers, it’s fair to say that payday loaning is here to stay. However, is this such a bad thing for our society? This article will explore the nature of payday loaning.


Many Brits are nothing short of angry with payday loaning, to the extent that demonstrations have even been held, aimed at those affiliated one way or another with such companies. One example can be found in the protests of football fans throughout the country at the English Football League’s advertisement of payday loan company Wonga. The extent of the anger was so strong that in the end, the Football League had to end their partnership with Wonga.

Furthermore, just last month, Premiership giants Newcastle United announced a sponsorship deal with Wonga which will see the payday loan company advertised on Newcastle United shirts. The move needless to say fuelled a lot of anger.

Justified Anger

However, is such anger justified? Payday loans do most certainly come with extortionately high interest rates. On top of that, many payday loan companies do not provide sufficient financial background checks for potential customers. This is to the extent that Wonga were recently under serious allegations of lending to children.

A Needed Practice

However, one must not rank all payday loan companies alongside Wonga it must firstly be said. There are a range of other payday loan companies that are much more ethically in tune than Wonga and who do provide sufficient background checking. Take Payday Bank at www.paydaybank.co.uk/pay-day-loans.aspx for example.

Furthermore, those taking out payday loans are aware of the fact that they come with extortionately high interest rates. However, for the most part, their situation is so desperate that they have no other choice but to borrow off a payday loan company and just deal with the interest rates when they are in a better financial situation to do so.

This brings us on to the most important point here. The majority of people taking out payday loans suffer from extremely difficult financial situations and therefore have no option but to opt for a payday loan. In fact, with bank lending being very rigid and near impossible for some, the only other option would be a loan shark; and we all know the problems this would bring.

Desperate times call for desperate measures and while payday loaning may not be ideal, for some, it is absolutely necessary.

Improve your home with a bad credit loan

One of the easiest bad credit loan is probably one for home repairs or improvements. That doesn’t mean it is a guarantee because there are still factors the lender will consider, but the chances of approval are greatly increased if you own real estate. You have to be careful, though, when you enter into a bad credit loan that is secured by your home because you can lose your home if you default on the payments.

Value of Collateral Has a Major Impact

When you’re looking for a bad credit loan for home repairs or home improvements, your chances for approval are increase because it involves a step that will increase the value of your home. On the other hand, it will also depend on the value of that collateral. If you recently bought your home and don’t have very much equity, you are not going to qualify for the best bad credit loan interest rate or repayment term unless you have been able to rebuild some credit over the past one or two years. If the value of the collateral is equal to or exceeds the value of the loan, you will receive a better interest rate than you would otherwise.

Employment Is of Less Importance than Collateral Value

When you are using real estate as collateral for a bad credit loan, your employment is of lesser importance than the value of the collateral. In some ways that can be a bad thing because it leaves those with a meagre income in a vulnerable position once they have used the equity in their homes to finance home repairs and improvements.

On the other hand, they are also increasing the value of their collateral by making sure their home is in top position. This leaves it up to the homeowner to make the decision regarding their ability to repay a loan that is secured by their home. Always know your own budget and the impact a new loan will cause but most importantly stay within your budget constraints even if it means having to wait longer to do the things you want to do.

Be Careful When Choosing a Lender

When you’re using your home as collateral for a bad credit loan, be careful of the lender you choose. Since many lenders do not conduct too much investigation when they are granting loans that use a home’s equity as collateral, you must look out for yourself. Even if the lender approves your request for the loan, if the repayment terms do not fit into your budget requirements, you need to find a lender who is willing to work with you.

Don’t make the mistake of letting a lender tell you how much you can afford in monthly payments, and even if they tell you that you “qualify,” only you know the payments that will make you feel comfortable. This is where many people get into trouble even with a primary mortgage—they think if the lender says they qualify for a £200,000 mortgage, they should obtain that size mortgage even if they would feel more comfortable with £150,000.

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Bad credit payday loans

The cash gap between your consecutive paydays sometimes becomes difficult to fill up due to scarcity of funds. The problem gets bigger if you are a bad credit holder. But if your situation is the same then don´t worry – there is a solution for you.

Bad credit payday loans are a service provided by most companies dealing with payday loans wherein finances are arranged for borrowers facing bad credit. The cash help enables them bridge the financial gap expediently. The payday loan approval will come instantly, irrespective of your bad credit. Credit records like arrears, CCJs, IVA, bankruptcy, defaults and skipped payments are all acceptable. So you have all the reasons to smile and apply!

Best payday loans companies provide chivalrous, speedy and friendly services to all their customers. Various unforeseen and unexpected expenses like medical expenses, car breakdown repair, school fee, broken windowpane etc. can be easily fixed up. The finances can be utilized as and when you want! They help their borrowers to stay financially afloat till their coming payday.

A small loan amount can be accessed within a range of £100-£1500. The term of repayment is short and goes up to 2-4 weeks. For your convenience the repayment date can be fixed with your upcoming payday. To qualify you need to be 18 years of age, having a valid bank account and with a fixed income source. If you meet the required eligibility conditions effectively, your application will be approved instantly.

Bad credit payday loans generally carry relatively higher interest rates. But good payday loan providers will arrange for you bad credit loans that come with lower interest rates, fast processing and flexible repayment terms. The approval will come really quick so that your requirement of urgent financial help doesn’t get diluted.

Borrowers can conveniently apply for this loan through the online application form at payday loan websites. Applying with these sites is just a matter of few minutes as you are required to fill only a simple application form and rest will be done by them!

Same Day Loans

Anyone can experience insufficiency of finance at any point of time. You certainly might get stuck in a tight spot when a sudden financial expense bangs and you have no finances to deal with it. Solving this situation will be difficult without finances but definitely not impossible! We have a solution for you; get connected with a payday loan company and save yourself from financial instability. The same day loans arranged by them will be a savior from financial problems.

Through same day loans smaller sums can be advanced up to ₤1000. Certain important financial expenses just can not wait till your payday. A minor car repairs, broken windowpane, college fee, emergency medical bills and many other expenses. By procuring loans within a day you will be able to fix up these important expenses on time. They will arrange a deal at lower and affordable rates for you so that you don’t face any problem at the time of repayment.

They will help in arranging same day loans for everyone who is in need of quick cash. All you need to do is qualify for these loans. The minimum eligibility criterion requires you be 18 years of age, with a fixed source of income and having a valid checking account. Bad creditors need not worry as there is no credit check required. You are eligible even if you are suffering form arrears, defaults, late payments, bankruptcy, missed payments and IVA.

Grabbing the same day loan amount is quite simple. The approval is free from hassles of credit check, paperwork and documentation formalities. Entailing these loans in the absence of formalities is so very simple!

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