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Latest news
Could an IVA be suitable for the Duchess of York?
A blog on the Telegraph`s website discusses whether an IVA (Individual Voluntary Arrangement) would be more suitable for the Duchess of York than bankruptcy.
The piece talks about how bankruptcy can `wipe the slate clean` within a year, but will require a court order and will impose restrictions on the individual. IVAs, on the other hand, can avoid the need for a court order but can take five years to complete.
Insolvencies fall in Scotland
Statistics from the Insolvency Service have revealed how many people entered a form of insolvency - bankruptcy/sequestration, an IVA (Individual Voluntary Arrangement), a DRO (Debt Relief Order) or a Trust Deed - in the second quarter of the year.
This time, Scotland was the `odd one out`, with lower figures than we`ve been seeing recently.
Pensioners `using home equity to pay off debt`
One in three pensioners who withdraw equity from their home do so to pay off debt, according to new research for Age UK, the charity for the elderly.
The research, carried out by the University of Birmingham, found that the most popular reason for equity release is still home maintenance, accounting for half of the total.
Latest news
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45 companies going bust every day
According to figures from the Insolvency Service, 45 companies in England and Wales are going bankrupt every day, the Telegraph reports. More than 4,000 companies went bust in the ... -
IVAs reach new high in Northern Ireland
The number of people entering an IVA (Individual Voluntary Arrangement) in Northern Ireland has reached a new high, the latest figures from the Insolvency Service have confirmed. In the ... -
IVAs reach record high
The number of people entering an IVA (Individual Voluntary Arrangement) reached a record high in the second quarter of the year, statistics from the Insolvency Service have just revealed. ...