Why a loan won't help you
Introduction
We rarely recommend people to take out further borrowing. Many lenders and finance houses put forward the idea of loans that tend to be expensive and unsecured. This is the wrong way to solve your problems.
- If you have high borrowings now, the last thing you need is more credit.
- Re-financing or a second mortgage is financial suicide.
- Putting all of your debt on the security of your home or under a personal guarantee you risk losing everything.
- It is not worth the risk of losing your home for the sake of a debt.
IVA's
The IVA Guide
Money Advice Direct has put together an IVA Guide based on the enquiries and questions that we receive at our helpline offices.
In the guide we cover such subjects as IVA Approval, early settlment of your IVA, missed IVA payments, IVA failure, additional debt claims and much more.
[click here for IVA Guide]
What is an IVA?
The IVA is an extremely powerful tool enabling you to clear your debt and return to a clean financial bill of health. Visit Money Advice Direct's Guide to Individual Voluntary Arrangements (IVAs).
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DANGER
Due to the tremendous demand for debt consolidation services the United Kingdom is now overloaded with debt management companies that contain misleading information. [more...]