Government Help For People In Debt

Government help for people in debt is available.

Insolvency

Insolvency IVA is a great way to help you manage your debts and learn how to come out of your financial mountain

Bankruptcy

Unfortunately there are times when its possible we may need the services of a bankruptcy lawyer for accrued debts

Solutions

Most debts are taken in times of extreme need and there are many solutions that can be used to get out of debt

What we Do

Individual & Corporates Accounting Services

IVA Help

Individual voluntary arrangement (IVA) is plan that was introduced by the insolvency act of 1986 to provide people with an alternative to being declared bankrupt

IVA Advice

An IVA can let you enter into a repayment agreement with your creditors which is a legally binding agreement and an alternative to declaring bankruptcy

IVA Calculator

An IVA Calculator is something that is used to determine if someone is eligible for an Individual Voluntary agreement.

Resources & Calculators

Useful Resources for Financial Management & Forecasting

401k Calculator

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Interest Calculator

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Retirement Planner

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Payment Manager

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Government Help For People In Debt

In these times of crisis many people solve the problem of that unexpected bill or sudden expense by taking out a loan, which is a good way to ease around a temporary shortage of cash, but sometimes the situation can get out of hand.

Government help for people in debt is available. There is a section at www.direct.gov.uk dedicated to people with money problems, in which every possible debt scenario is covered. There is a wealth of information and suggestions on how to get help and advice, together with lists of the various solutions available.

The first step in coping with the problem is listing all that you owe, together with general living expenses, to get the all-round picture of monthly expenditure. Then divide the list into priority groups. High priority, those bills that have to be paid, are of course the mortgage or the rent, utility bills, and taxes. Low priority includes credit cards and installment-plans, etc. Tax payment is high priority, but the site directs you to the numerous benefits and allowances, such as Housing Benefit, child support and many others, that can help reduce your monthly expenditure. The important message seems to be: go and talk to people, particularly to your local council, to see if there are any tax benefits or other allowances you are entitled to. They strongly recommend contacting organisations like the Citizens Advice Bureau and numerous others in a long list. These organisations also have telephone helplines.

The site explains various repayment solutions, such as informal arrangements with creditors, or the so-called IVA (individual voluntary arrangement), which arranges for the debt to be paid over a set period of time, often with a reduction of part of it. Debt Management Plans allow you to condense what you owe into one payment per month (excluding secured debts such as mortgages) if your monthly budget is steady. There are many solutions, and the website offers detailed clarifications and sound advice.

Contact Us

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info@diviaccountant.com

(235) 462-3512

1234 Divi St. #1000, San Francisco, CA 93215

M-F: 8am-5pm, S-S: Closed