What is the impact to an individual of an IVA?

An Individual voluntary arrangement (IVA) is a debt and insolvency solution that involves a reduced payment plan over a longer time (click here for the full definition of an IVA from the Citizens Advice website).

IVA’s can be beneficial in situations where the debt is straining your finances, but it can also have fairly dire consequences on various aspects of your life. This article covers some of the effects of applying for an IVA.

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Six ways to try and cut your spending

Have you ever looked at your bank account and been concerned about your “available” balance? Most of us have at some point, according to a recent survey carried out by our friends over at same day loan broker Growing Power. Cutting your spending can feel like a mammoth task that many of us would rather avoid than take responsibility and follow steps to improve our finances.

However, with a little bit of time and effort, cutting your spending can become instinct and your bank balance can start to look healthier. Even if your income isn’t great, there are ways that you can improve the way that you spend and make positive changes to your habits.

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