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Consultation on debt management launched Govt aid for those struggling with mortgages `too late for some` Pensions `no problem` for IVAs UK reaping what it has sown in terms of personal debt, expert claims Struggling consumers `likely to default on TV subscriptions` Consumers `struggling to cope with mounting debt` Bankruptcy increases by 7% `More Brits applying for personal loans` 70% of Brits `without unsecured loans` Pre-paid cards `more popular as debt rises` IVAs `a real alternative` to bankruptcy Brits `trying to escape credit crunch` by moving abroad West Sussex consumers suffering debt IVA agreements increase Industry body welcomes IVA mailing probe OFT to target bogus IVA companies IVAs can be "helpful" for large debts IVAs - consumers warned about bogus deals Insolvency rates rising IVAs can be "better option" than bankruptcy

IVA firms and banks hold `positive` talks

13/03/2007

The British Bankers` Association (BBA) has revealed that both parties agreed that rogue elements in the IVA industry should be excluded from the market.

Brian Capon, spokesman for the BBA, said that there had been two rounds of talks, which also included representatives from the insolvency services.

"We established a lot of common ground between us and the IVA providers at that meeting," Mr Capon commented.

He also remarked that as long as they are issued "in the right circumstances", IVAs can be very helpful to people in financial difficulties. However, he added that anyone considering entering into an IVA should be completely alert to the implications.

Credit reference agency Experian recently said that it expect the number of IVA applications to overtake the number of bankruptcies this year.

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