Press Release Summary: The number of IVA's recently has exploded, in the year 1997/1998 there were fewer than 5,000 IVA's in place, by the year 2004/2005 the total had peaked and gone over the 20,000 barrier, with this year ending 45,000.
Press Release Body: With the IVA now fast becoming an extremely powerful and dependable tool for the sole traders, individuals and partners of our society, there is clear information that they are a fast becoming a key asset to helping the public clear their debt and return to a clean bill of health in the long term.
IVA\'s are legally binding arrangements that are then supervised by a Licensed Insolvency Practitioner, this as stated above are to enable many individuals ranging from the every day sole traders to partnership businesses attempt to give themselves a better outlook on the business or individual futures. This in the long term allows the debtor to reach in principle a compromise with their creditors, thus creating a chance for them to prevent the acute problem of becoming bankrupt.
An IVA is typically nowadays available to all individuals, sole trader, and the partners who find themselves in any troublesome areas including creditor pressure, cash flow problems. The IVA is a first choice option to preventing the individual going bankrupt and in turn allow for a much greater repayment to the creditors that what would be repaid should bankruptcy be an option.
Johnathan Terry Bramley Carrington Limited www.bramleycarrington.co.uk
Bankruptcy Advice UK, IVA, CVA, Insolvency and liquidation Services Confidential bankruptcy advice and professional insolvency and liquidation services for anyone in debt and facing bankruptcy, guiding both individuals and companies through CVA or IVA
Posted by Bramley Carrington at 04:17 0 comments
Friday, 30 November 2007 Bankruptcy - Analysis and Advice by Bramley Carrington
Over the previous years bankruptcy compared to recent times has become a much more difficult act to perform, owing to the laws from many years ago many people could find themselves able to file for bankruptcy at any given time, nowadays the laws seem to have become a lot stricter meaning that some files for bankruptcy can be rejected. Many instances nowadays need to be approved by a judge, this is not necessary a forgone conclusion.
When it comes to filing for a bankruptcy be it personal or business this procedure can no longer be classed as an easy do it yourself activity, your time however would be better spent getting your financial stability back on track and looking at a route you can improve matters in the long term. The money that you look to re-gain would be better spent on hiring yourself a business recovery/debt management company. This will enable you to ensure you get the highest quality advice and help in erasing the problems. The advice the business recovery company would issue is second to none, they are able to look at the problems and evaluate them, and giving you the client a much more in depth option to take to brighten up your own future.
When people think about the term "bankruptcy" they seem to be apprehensive regarding what the knock on affect could lead to in the future, this isn't necessarily the case in the modern world. People may believe that should they declare themselves bankrupt this would ensure that they lose all their possessions, this however is not true, what they stand to lose and what they could lose is something completely different, this point all depends on the individuals situation and the bankruptcy chapter that is filed in there name/company name. There is always that slight possibility that you may not lose anything at all.
What about obtaining credit in the future you ask? Exactly, this again is not a problem, granted there may be the added possibility that a poor past credit history is going to limit your chances, but this is just the lenders covering their own backs. The main stumbling block that you may face would be increased interest rates to pay, call in proving yourself again; but following a bankruptcy this should not prove to be a major downfall.
With bankruptcy been part of near enough everyday life for many people and the truth that this now only lasts 12 months in many cases, you have a very distinct possibility of erasing the distant memories of the past credit troubles and sustaining a very fruitful life. With the prospect of bankruptcy looming it can be a very stressful and traumatic time for not only you but your family or possibly workforce. The best option to limit the troubles is a business recovery company like us Bramley Carrington who will take all your needs into account.
Johnathan Terry Bramley Carrington Limited www.bramleycarrington.co.uk
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