Two experts are advising borrowers at risk of bankruptcy to face up to their debt problems. In an article on bbc.co.uk, CBW accountants John Alexander and Carl Bowles suggest many tend to put off dealing with their debts, often making the situation much worse. They recommend individuals facing bankruptcy should look into other debt management plans such as Debt Relief Orders (DRO) and Individual Voluntary Arrangements (IVAs). An IVA can see those with unsecured debts of over £15000 pay manageable monthly amounts over 5 years. DRO’s are available to those with less than £15000 of debts and assets under £300. Official insolvency figures are due out this week.
Face up to debts to avoid bankruptcy
May 6, 2010 By
