Sunday, February 24, 2008

Avoid Bankruptcy

Money has nowadays been the yardstick that determines a man’s social status. Even more important is the fact that u must find effective ways to spend and henceforth to save what u had earned. From the time when has used to pocket his money(earnings & savings), money nowadays, has men very muchin its grasp. So inorder to reduce our dependency on this money, we must ensure that we dont go bank-rupt.

Getting out of debt is simple and easy to do without having to file bankruptcy. Some simple things to do in order to never get into debt, is to never borrow any money from anyone. The second thing is to make sure to be very careful in life, and what I mean by that, is if you drive your car drunk and hit someones car from behind, it would be your fault and you would have to pay for the cars damages andprobably the persons injuries if they have any, basically putting you into debt because you were being careless.

That said, if you are in debt or worst still are at the verge of bankruptcy, try another method of Debt Management.

All you need to do is to apply for an IVA (Individual Voluntary Arrangement) which means a legally binding agreement with your creditors that will be overseen and supervised by licensed insolvency practitioners who are also chartered accountants. They will cut the total you owe, freeze the interest you pay and can remove any threat to the home you own. Your creditors will be legally bound, they will never chase you and you'll have one fixed and affordable monthly payment to make. And don't worry because they do not charge you for their advice and assistance. Once your IVA is approved they take their Nominees and Supervisors fees as approved by your creditors, out of your agreed monthly contribution. We don't want to loose what we had right now, so if you are struggling with your debt, I strongly suggest you to visit this website and help them solve your problem.