Tuesday, January 8, 2008

IPs and Banks kiss and make up

Dealing with dodgy debt

A truce has been called between leading lenders and providers of individual voluntary arrangements (IVAs) that should mark an end to the bitter acrimony that plagued Insolvency Practitioners for much of last year Around 1.4m homes face mortgage repayment increases of up to £200 a month when fixed-rate deals taken out two years ago come to an end. A vast majority of people in debt will get by with a bit of time-honoured belt-tightening, but for some it is already too late. So, having taken the pain of the new fee structure, IPs will now be rubbing their hands.

Posted by alan @ 03:18 PM (545 views)
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9 thoughts on “IPs and Banks kiss and make up

  • I suggested a while ago that banks may reverse their anomosity towards IVAs. My theory was that since the credit crunch they would rather accept 25% of the debt in order to get some plusses back on the books. Good news for IVA companies – time to buy back into debtmatters and debtfree direct?

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