Freephone 08081 446611 for practical solutionsNews
May 2010
Insolvency Practitioners saved nearly 2 million jobs in 2009. The **** Com Res has estimated that the UK Insolvency Industry has helped to save nearly 2 millio... more
February 2010
INSOVENCY NUMBERS ON THE RISE The latest figures from the Insolvency Service show a 22.8% rise in Company liquidations during 2009. Similarly the number of Per... more
March 2007
The Office of Fair Trading has clamped down on 17 businesses promoting IVAs that it considered were potentially misleading consumers through their adverts and websites.
Of particular concern were a number of potentially misleading statements, such as;
- Falsely claiming that “up to 90 per cent of your debt may be written off” when the maximum would be in the region of 60-70%
- Falsely implying they can guarantee a favourable outcome by the use of such phrases as “stop all interest and charges”
- Failing to state that homeowners may be required to re-mortgage their properties after three years
- Failing to state that entering into an IVA also affects an individual’s credit rating for six years.
Lines Henry welcomes these steps. The unrealistic claims of some in the industry have long been a problem. The purpose of an IVA is for there to be a realistic and fair Proposal by a debtor to all of their unsecured creditors. It has to be fair and realistic to both debtor and creditors. IVA’s should not be looked at as a debt avoidance scheme, but rather the best offer in what are invariably difficult circumstances for all concerned.
What will it cost me?
This is a question you should ask any firm or organisation which offers insolvency / debt advice. Rest assured, Lines Henry as Insolvency Practitioners, do not make any up-front charge or consultation fee.
The following pages will help explain how and where we can help you.
Contact us
You can contact us by calling our freephone number 08081 446611. By emailing us at help@lineshenry.co.uk or alternatively by completing our call back form below:
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Just-Debts is the one stop web site for people with debt problems. Whether you have debt problems, are currently in debt management and looking for an alternative, considering debt consolidation, or an Individual Voluntary Arrangement. Take advantage of our free consultation service.