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Debt worries? IVA could be the answer
Those who have not yet heard of the individual voluntary arrangement aka IVA should know that it can help people who worry that they might not find the necessary amount of money to fund their retirement.
The University of Birmingham conducted a research which was later published by Age UK. This research was entitled Housing and Finance in Later Life and shows that many people above 65 years of age find it hard to get by. Their modest incomes cannot ensure a decent living standard and in many cases equity release is used to pay off debts.The bright side of an aging society is that it can be considered a triumph of modern life, as Age UK charity director Michelle Mitchell has put it. However, this has brought about a number of challenges.
Yet, there is a way in which those worried about taking their debts into retirement. IVA can help them repay what they owe in quite a smooth fashion.
Check the IVA information and see how you can clear your borrowing through in about five years of work. Once you have done that, you can start with a clean slate when you reach your retirement age.
