Naija Watch Blog

Be Your Own Debt Consolidation

January 30th, 2009 by admin

Not everyone is suited for the debt consolidation process and going through companies that handle this type of work. There is a way to handle your own though. An iva (individual voluntary arrangements) allows you to be the debt consolidation agency. Make an offer to your creditor and pose a binding agreement. Explain your financial situation and request one of the individual voluntary arrangements. If you qualify they will accept or make a counter offer, which is usually much less than your original debt. The agreement also guarantees that after 5 years of successful completion of this agreement, regardless of how much money remains as debt, the debt is cleared.

Posted in Business   

3 Responses to “Be Your Own Debt Consolidation”

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