The Consumer Credit Counselling Service (CCCS) has announced that from April of this year it will offer free IVA services to consumers.
Many IVA (Individual Voluntary Agreement) companies charge a fee for their service and there is growing concern that consumers are not always given full details about the choices they face when they become insolvent. IVAs and Bankruptcy should be seen as a last resort and not as an easy way out of debt.
The CCCS is one of the UK's largest debt counselling services and, by offering free IVA services, it hopes to advise consumers on the best path for them to take.
The overall amount of personal debt in the UK recently exceeded £1.3 trillion, according to statistics from the financial charity Credit Action.