government legislation

pa_bar

Hi, I sometimes receive emails about government legislation that can reduce my debt by 70%. Is there any truth too it...??

Grumpelstiltskin

Very short answer no, they are trying to get you to enter an IVA.


If you have debt problems then contact one of the charities who will talk you though your options and most importantly will not charge you.

National_Debtline

Hello there,

As Grumplestiltskin mentions, it's very likely that they are talking about an Individual Voluntary Arrangement. These are possible as they are a scheme that is underpinned by the Insolvency Act - the same as Bankruptcy. I guess this is why some commercial firms try and sell IVAs as some sort of government-backed scheme.

You can find out more about IVAs via our fact sheet, which you can find *here*

Best wishes,

David @natdebtline