Individual Voluntary Arrangement Can Prevent Bankruptcy
(ContentDesk) July 16, 2006 -- Bankruptcy is on a steep rise in the UK. Part of the problem is a misconception that going bankrupt represents a soft option when dealing with serious debts and insolvency, say debt help experts The Debt Counsellors, who are urging people with serious debts to consider the Individual Voluntary Arrangement as an alternative.
The Enterprise Act of 2002 made it possible to be discharged from bankruptcy in less than 12 months and The Debt Counsellors claim that a result of this is that many people are under the misapprehension that going bankrupt is an easy way to wipe out their debts.However, as the debt advice organisation points out, bankruptcy carries with it a serious risk to key assets as well as restrictions regarding business activity and credit.The Debt Counsellors also believe that many people enter into bankruptcy without being sufficiently aware of the alternatives, such as the Individual Voluntary Arrangement (IVA) which avoids many of the risks associated with bankruptcy and allows the debtor to continue earning whilst paying off a reduced debt over five years.John Porter, a senior counsellor with The Debt Counsellors, said: "The last quarter's bankruptcy statistics showed a year-on-year increase of 38%."As many as 100,000 bankruptcies are predicted for 2006 but we believe that in many of these cases, people are entering into bankruptcy without sufficient knowledge of either the risks involved or the alternatives."Porter adds: "We are urging people to get professional debt counselling on their situation before making a firm decision. The Individual Voluntary Arrangement is a potential way to avoid bankruptcy and a debt counsellor will be able to give advice on whether it is viable in an individual case."For more information and advice on bankruptcy, insolvency and the Individual Voluntary Arrangement, visit http://www.debtcounsellors.co.uk.
The Midas Touch to Debt Problems (A-Z of Debt Solution)
In the present era where financial breakdowns and debt problems rein supreme, some programs like http://www.debtconsolidationcare.com/diy/ can turn your nightmares into sunny beginnings. The consumer debts in America have reached staggering levels after more than doubling over the past 10 years. According to the figures from the Federal Reserve Board, consumer debt hit $1.98 trillion in October 2003, up from $1.5 trillion three years ago. There are presently 5 to 7million Americans, who are financially overstressed. The fourth quarter of 2004 found consumers exhibiting little confidence in the economy, with unemployment at 5.4 per cent, individual bankruptcy filings at an annual rate of
about1.6 million.
Americans pay more than $65 billion dollars in interest to banks annually, and unsecured credit delinquencies are at an all-time high. According to American Consumer Credit Counseling, the total U.S....
The Midas Touch to Debt Problems (A-Z of Debt Solution)
Bankruptcy > The Midas Touch to Debt Problems (A-Z of Debt Solution)
Meares Appointed to Second Committee Position in the National Auctioneer Association
PELZER, SC (ContentDesk) August 19, 2005 -- Auctioneer Darron Meares of the Meares Auction Group was recently appointed to the Membership Committee of the National Auctioneer Association by newly elected president Dennis Kruse.
This position will place Meares on two committees within the organization; he is currently on the Public Relations Committee.Meares is currently the marketing director for the Meares Auction Group which comprises Meares Auctions, Inc, Meares Land and Auction Company and the Southeastern School of Auctioneering.
The group has averaged over 125 auctions per year for the last ten years and specializes in Real and Personal property liquidations, bankruptcy and business liquidations and education of auctioneers through Continuing Education seminars.Founded in 1949, the National Auctioneer Association is the world's largest professional auctioneer organization with more than 7,000 members nationwide. Members abide by a code of ethics that protects...
Bankruptcy > Meares Appointed to Second Committee Position in the National Auctioneer Association
Meares Appointed to Second Committee Position in the National Auctioneer Association
PELZER, SC (ContentDesk) August 19, 2005 -- Auctioneer Darron Meares of the Meares Auction Group was recently appointed to the Membership Committee of the National Auctioneer Association by newly elected president Dennis Kruse.
This position will place Meares on two committees within the organization; he is currently on the Public Relations Committee.Meares is currently the marketing director for the Meares Auction Group which comprises Meares Auctions, Inc, Meares Land and Auction Company and the Southeastern School of Auctioneering.
The group has averaged over 125 auctions per year for the last ten years and specializes in Real and Personal property liquidations, bankruptcy and business liquidations and education of auctioneers through Continuing Education seminars.Founded in 1949, the National Auctioneer Association is the world's largest professional auctioneer organization with more than 7,000 members nationwide. Members abide by a code of ethics that protects...
Bankruptcy > Meares Appointed to Second Committee Position in the National Auctioneer Association
Screws Tighten for U.S. Credit Card Borrowers With Higher Payments, Rising Rates, Looming Bankruptcy Reform
(ContentDesk) October 7, 2005 -- Delinquent credit-card accounts have risen to an all-time high. Credit-card issuers are instituting new payment policies upping minimum payment requirements, and raising rates at the same time. Add in the new bankruptcy law, which takes effect on Oct. 17, and the forecast isnt pretty, according to Brad Stroh, co-founder and co-CEO of Freedom Financial Network, LLC.Beginning this month, most lenders are instituting new minimum-payment policies to comply with requirements of the Office of the Comptroller of the Currency (OCC). The new policies require minimum payments to cover interest, fees and a portion of the loan principal each payment period.
As a result, borrowers will see their minimum payments increase from approximately 2 percent of the principal balances on their credit cards to 4 percent, meaning a doubling in payments for many.This material increase in monthly minimums comes at a time when the American consumer is already overburdened....
Screws Tighten for U.S. Credit Card Borrowers With Higher Payments, Rising Rates, Looming Bankruptcy Reform
Bankruptcy > Screws Tighten for U.S. Credit Card Borrowers With Higher Payments, Rising Rates, Looming Bankruptcy Reform
Bankruptcy
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