CCS to offer IVA services
Published On 12 March 2007
One of the UK's largest debt counselling services has announced that it is to start offering free IVA services to consumers.From April of this year, the Consumer Credit Counselling Service (CCCS) is to offer IVA services with the overall being to reduce the amount of people forced to use companies that charge fees for the service.
The CCCS maintains that many such companies fail to warn debtors about the long-term consequences of taking out an IVA.
A CCCS spokesman recently told the financial website This is Money: "Both IVAs and bankruptcy should be taken as a last resort, but if you planning on insolvency you should be sure that you chose the correct path."
Recently the overall amount of personal debt in the UK exceeded £1.3 trillion, according to statistics from the financial charity Credit Action.
As debt has become a bigger problem, many more people have started to turn to IVAs, which were first offered in 1986.
