When looking at statistics for individuals being bankrupt in the UK, the Insolvency Service compares year-on-year or quarter-on-quarter between two or more years. Recently the Insolvency Service released statistics through the third quarter of 2011 and these figures validate the fact that fewer Britons are being bankrupt. When analysing the 12 month period leading up to the third quarter of 2011, only one in 361 Britons were ordered bankrupt as opposed to the preceding year-on-year totals that saw one in 349 Britons made insolvent.

Debt solutions which kept consumers out of bankruptcy included IVAs, Individual Voluntary Arrangements, and in just the third quarter alone there were 13,048 people who took advantage of an IVA to avoid insolvency. Although there is a newer debt solution which is available to help avoid being bankrupt, very few people are actually eligible for a Debt Relief Order, DRO. Anyone who owns a home or vehicle will most likely be inelligible as will those who owe less than £15,000 in debt and/or make $50 or less per month.

Licensed IPs at debtfreeme can help find the debt solution for anyone seeking to join the ranks of Britons who are avoiding insolvency. Whether a DRO or an IVA is the best solution can be determined by professional debt specialists who always endeavour to find the debt solution which works best for the consumer. So many Britons are taking advantage of these alternatives to bankruptcy that IPs are literally in high demand and in short supply.

If an   IVA is the right solution for you, Debt Free Me can represent you with both creditors and the courts as certified IPs. Bear in mind that according to UK law a certified IP or Insolvency Lawyer/Solicitor must handle the IVA from petition and negotiations to representation in the courts. Debt Free Me can be your advocate and help you discover ways to avoid being bankrupt. Wherever and whenever possible, insolvency should be avoided at all costs and there is most likely a solution to help you stay solvent.

With the subject of IR35 feeling like a grey area for most contractors, it is recommended that any contractors unsure of their IR35 status seek expert advice from either an accountant or most of the time recruiters will also be able to advise you on this topic, however it depends how uncertain you feel about your [...]

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There are many reasons why a Debt Management Plan can have a very positive effect on your finances and debt payments.

Lower Monthly Debt Payment – You make a monthly payment that you can afford based on the calculation of your advisor.
One Single Payment – Your many confusing debt payments are replaced by a single payment [...]

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Credit Builder Credit Cards
Credit cards for bad credit or credit builder credit cards are for individuals who need to repair or improve their credit score. For those with poor credit history, it is important to repair it as effectively as you can. There are not a lot of options for those who need to repair [...]

Individual Voluntary Arrangements, or IVAs, are an alternative debt solution to bankruptcy which involves an Insolvency Practitioner negotiating reduced debt repayments that you are able to afford. A typical IVA runs for a period of 5 years, after which time any remainder of debt is usually written off.
This article completes our insight into the mechanics [...]

An individual voluntary agreement, or IVA, is an alternative to bankruptcy that can help you avoid a very painful financial situation. It is a legally binding agreement between you and your creditors that is designed to match your financial situation. Of course, it would be nearly impossible to set up an IVA on your own, [...]