/24-7PressRelease/ - NEWTOWN, UK, January 17, 2006 - The Advice Centre announces its professional debt management programmes in the UK designed to help free people from the burden of debt. The Advice Centre is a leading provider of professional debt management programmes, and excels at creative problem solving. The Advice Centre is committed to client confidentiality. More information, advice, guidance and support can be found at: http://www.theadvicecentre.org.uk.
IVA's and Trust Deed (http://www.theadvicecentre.org.uk/iva.aspx)
Introduced in 1986, an IVA is a legal way of writing off up to 90% off debts by entering into an arrangement with creditors via an Insolvency Practitioner. When in debt, people often need expert advice, especially if debts are high or further action is being taken against them. An IVA is a maximum 60 month arrangement, where you pay what you can afford to pay every month for 5 years, after which time any remaining debt is simply written off. It is open to tenants or homeowners, who owe more than 15000 that, would take longer than 7 or 8 years to pay back under a Debt Management Plan. NB. It is not always the best option however, depending on what happens to you in the future. As the IVA is a binding arrangement, once it starts, creditors cannot contact you in any shape or form. They are not allowed to visit, write or phone. Therefore, the stress is taken away, and people can start to take control of their lives again.
What Is a Trust Deed?
A Protected Trust Deed is a legal process available only to residents in Scotland whereby you can gain protection from creditors in much the same way as with an Individual Voluntary Arrangement in the rest of the UK. On agreement, creditors will accept a reduced amount in full and final settlement of debts with them. Payments are normally made over a 3-year period, after which the balances on unsecured debts are written off. On agreement, all interest and charges on debts are frozen. Protected trust deed is supervised by a licensed insolvency practitioner, who is responsible for all negotiations with creditors and who is also responsible for ensuring that you keep to the terms of the Trust Deed.
The Advice Centre is a leader in the provision of debt management programmes in the UK designed to help free people from the burden of debt. The Advice Centre can provide you with a debt management programme, a debt consolidation loan or a reduced payment plan based on an individual voluntary arrangement IVA. The Advice Centre can cancel up to 90% of your debt so that you may only have to repay 10%. The Advice Centre delivers professional debt management, excels at creative problem solving and is committed to client confidentiality. For advice, guidance and support call The Advice Centre today on 08454 666 661, or view our website at: http://www.theadvicecentre.org.uk.
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