IVA restrictions good news for some - UK Business Labs

IVA UK · #1 (**permalink**) 13-04-2009, 03:49 PM

Bankruptcy rates are increasing since new IVA restrictions were put in place last year. The new restrictions meant the debtor had to allocate a large porportion to creditors in order to join the IVA programme. If you are a business owed money then you will be rightly cheered by the change in law. On the other hand, bankruptcy is now the preferred debt reduction option, which means busiesses may get nothing from debtors.

**OldWelshGuy** · #2 (**permalink**) 14-04-2009, 03:23 PM

This can be attributed to the way some debt collection agencies and bayliffs operate.

UKSEOagency · #3 (**permalink**) 14-04-2009, 03:43 PM

definately the way a lot of agencies (bailiff and debt collection) operate is a big big problem!

We were being chased by a couple of agencies for monies owed to old broadband providers, who were chasing me for money i "apparently" owed them for time when i was no longer using there service!

they really try to get into you - I was having daily calls off one of the agencies regarding the matter of the £21.24 I didnt actually owe. It would have been a lot easier to cave in and pay the money (which is next to nothing in the scheme of things) but it is in my moral upbringing to pay for what you get, and do what you are paid for!

they threatened me with letters for legal proceedings, court costs etc etc etc etc - more mail was coming from these 2 debt chasers I (didnt) owe £40 - than my mortgage company who I owe a lot more!