There are some IVA Pros and Cons that you should know. Firstly, you need to know that you will be paying back your debt at a rate you can afford, and the rest will be written off at the end of the arrangement. You may even have up to 70% of your debt written off at the end of your
Which debts can be included in a trust deed? This article will help you understand these two different types of debts. Secured debts are tied to a specific asset and can be sold if the borrower fails to repay the money. Unsecured debts are not tied to a specific asset but are backed only by the borrower’s promise to repay
What is an IVA? An IVA is an agreement between you and your creditors that will freeze interest, stop legal action, and create a repayment plan. While debt settlements can be informal, an IVA gives you more protection. Creditors are prohibited from taking legal action against you if you choose to make an IVA. Read on for more information about
How do I apply for a Trust Deed? There are two main types of Deeds of Trust. Short Form and Long Form. The Long Form is a longer document that is typically used by institutional lenders. The Short Form is usually prepared by an Escrow Officer and incorporates the standard Long Form clauses and conditions. It is recorded in all
How does a Trust Deed work? A Trust Deed is a legal contract between a borrower and a lender. While the lender retains title to a home, the borrower remains the equitable owner, enjoying the homeowner benefits and building equity. The beneficiary is a party that protects the borrower’s investment interests, usually a lender. The beneficiary may also be an
How Bankruptcy Affects Senior Debt When is a person eligible for Bankruptcy? There are many reasons why taxpayers file for bankruptcy. The best way to avoid bankruptcy is to practice sound financial planning and common sense. If you are contemplating bankruptcy, you may want to consult with a credit counselor or a financial planner. In this article, we will briefly
You might have heard about IVAs, but have you ever wondered how they actually work? What do you need to know before applying for one? You can take temporary payment breaks and have missed months added to the end of your IVA. An IVA is an affordable option that requires no upfront costs and only a low monthly payment. It
There are many reasons to Apply for an IVA, and a good one is that it can work for just about anyone. The IVA is suitable for a variety of circumstances, and nearly all UK residents can benefit from it. The costs of living are many and varied. These include mortgage/rent, food, clothes, transport, parking, council tax, phone, mobile, and
Are you wondering whether a Trust Deed is right for you?There are some important differences between a mortgage and a trust deed. These differences may make it difficult to determine which option is better for you. In this article, you’ll learn about the differences between the two types of mortgages and what to look for when comparing one to another.
Are you wondering if an IVA is right for you? An IVA is a formal debt solution that requires a statutory agreement between you and your creditors. Because your creditors must agree to it, your credit rating is affected, so only large debts are appropriate for an IVA. However, if you’re in dire need of financial help, an IVA could