Free National IVA Advice for Debts
A brief overview of how the best way to deal with financial worries is to face them with the right support rather than bury your head in the sand.
It is often a vicious circle, but one that is so easy to get locked into. For one reason or another, the money you owe, with interest, exceeds what you can have and the situation spirals downwards and often out of control. The less you are able to pay back the worse the situation becomes, until you feel like running away or giving up. Being in debt is a serious reality for many people who feel there is no way out. However, they might find that a problem shared might be a problem halved, or at least a problem properly managed.
If you are in debt then unless your financial situation changes for the better, the likelihood is that the problem is just going to get worse. The ultimate dread for many families is that they will lose the roof over their heads and their only bit of equity. Late payments, interest which is big enough to supersede your income, not to mention the stress and worry, can be crippling in every respect. You might resist support which is going to cost money and add to monetary troubles even more, but it is worth listening to solutions voiced for free. National IVA advice is basically an individual voluntary arrangement whereby you can enter into an agreement through an organisation which will speak to your creditors and work out how you can repay what you owe. Really this is a form of trying to manage your debts so that the problem does not get worse.
The reality is that most people have more than one creditor when they owe money, and whilst you might not relish the idea of being in debt, those who lent you the money have every right to ask for it back. A middleman, or third party which offers solutions whereby an arrangement is made and perhaps the interest on your debt is frozen, is an idea that might be considered. The important thing to ensure, if you are under pressure with money, is that you do not simply ignore this fact, or discount ideas which might lead to financial freedom in the foreseeable future. There may be several arrangements you can come to, or a variety of choices you can make, such as whether to sell your property or not. What is not wise in the short or long term is to ignore money pressures altogether.
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