An IVA is 'A Real Alternative to Bankruptcy'

MANCHESTER, England, November 15, 2010 /PRNewswire/ -- Debt advisors at MoneySolve believe that the IVA has become a real alternative to bankruptcy for many. Speaking about this option for those who are suffering personal insolvency, the advisors from MoneySolve, who assist a large number of consumers in debt, commented:-

"Prior to the IVA, those experiencing personal insolvency might, in many cases, would have had no alternative solution other than bankruptcy. Whilst IVAs have been available since 1986, it is only relatively recently that they have become freely available. This, coupled with the fact that there is so much information about them has served to increase their popularity amongst consumers facing financial difficulties."

Advisors at MoneySolve believe that the IVA has less of a social stigma attached to it than bankruptcy, adding,

"Bankruptcy is often seen as the ultimate financial failure and this type of stigma serves only to make people feel more embarrassed about their financial position than they already do. The IVA seems to have less of a taboo about it - perhaps because the debtors at least feel like they are paying back what they can realistically afford."

While IVAs were traditionally used to help out small businesses experiencing financial problems, their availability to general consumers has helped thousands of people to resolve their debt problems.

If you are concerned or worried about your personal finances and would like free, professional and confidential debt advice, contact MoneySolve on 0800-634-1125 or visit http://www.moneysolvedebtmanagement.co.uk or http://www.iva.org.uk

SOURCE MoneySolve

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