Best of Money Carnival

The Best of Money Carnival #100

The Best of Money Carnival #100 is up at The Financial Blogger. Congrats to all participants and especially the winning post, How Stock Options Work.

Next week's carnival will be held at Budgeting in the Fun Stuff. Click here to submit a post.

Submission Workaround

For those of you trying to submit to the Best of Money Carnival and having a problem with Blog Carnival, here's an alternative way to submit.

The Best of Money Carnival #99

The Best of Money Carnival #99 is up at The Millionaire Nurse Blog. Congrats to all participants and especially the winning post, How often do you wash your jeans?

Next week's carnival will be held at The Financial Blogger. Click here to submit a post.

The Best of Money Carnival #98

The Best of Money Carnival #98 is up at Budgets Are Sexy. Congrats to all participants and especially the winning post, How Many Clothes Do You Need Anyway?

Next week's carnival will be held at The Millionaire Nurse Blog. Click here to submit a post.

The Best of Money Carnival #97

The Best of Money Carnival #97 is up at Yes, I am Cheap. Congrats to all participants and especially the winning post, Retirement Portfolios for Those Drawing an Income.

Next week's carnival will be held at Budgets Are Sexy. Click here to submit a post.

Everything You Need to Know About IVA’s

The following is a sponsored guest post.

In IVA or Individual Voluntary Arrangement is a method of debt repayment which can help those who are struggling to manage their finances. If your monthly living costs and debt repayments exceed your monthly income and you cannot afford to pay your debts, then setting up an IVA could help you pay what you can afford.

IVAs are available to those who owe over £15,000 to two or more creditors. They are a legally binding arrangement between the individual and their creditors and can allow you to write off as much as 70 per cent of your unsecured debt. IVAs are chosen as a debt solution problem by those where debts are too large to consolidate into a monthly affordable payment. Instead a licenced Insolvency Practitioner will negotiate a settlement whereby some of the debt is written off and the amount owed and the associated fees are frozen while the debtor pays them off. This is usually over a period of five years.

Through this agreement legal action is prevented and assets like your home enjoy protection, although you may be required to release equity within your home should you have any. During the course of your agreement you will be bound to follow its terms and will also be unable to take out any more credit. The IVA will be shown on your future credit rating but will not disqualify you from working in professions such as the police service as bankruptcy would.

IVAs can take a few weeks to set up, so if you are wondering if it might be a suitable to solution to help you with your own situation you should seek the guidance of a good debt management firm as early as possible. They will be able to put you in touched with an IP. Should you choose to take out an agreement you will pay for the services of the IP with these funds usually being incorporated into your monthly repayment. However, you should be able to receive initial financial advice for free without commitment.