A leading expert in the field of IVAs has come up with some advice in a new report about the highly controversial policy in which he picks apart the pros and cons to come up with a definative verdict.
Personal Insolvencies have grown rapidly throughout 2007 with more and more people struggling with mortgage repayments as a result of inflated interest rates.
Within the report, Steve Rhode suggests the reasons why many banks and other lenders are against the procedure, commenting: "Individual Voluntary Arrangements came about as a result of government regulation and fall under the auspices of the Insolvency Service, and creditors feel they are a privilege. Odd."