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Individual Voluntary Arrangements and Debt Management Plans
When dealing with personal insolvency, there are a number of ways to deal with your debt and the best one for you will depend on your individual circumstances.
When looking for debt advice, it’s common to see debt management plans advertised prominently from a variety of companies. Financial advisors, however, might well recommend you speak to a licensed insolvency practitioner about setting up an IVA or Individual Voluntary Arrangement. It is common for IVAs and DMPs to be offered by the same firm.
While IVA’s and DMP’s might appear to be fairly similar ways to tackle personal insolvency and problem debt, there are some important differences.
IVA or DMP – What’s the best way to handle my debt?
At Lines Henry we specialise in helping individuals and businesses in financial distress. We offer a free consultation and normally a call to us is the first step towards regaining control of your finances.
Speak to us, We can help.