People tend to borrow money without even thinking of where to place that money in the first place and that is a no-no for borrowing. In my seven years as an entrepreneur, I always make sure that I have planned well of where my borrowed money will go and on how I will manage my debts.
But what if you do get into debt trouble? What would you do? Here's one of the possible way...
Borrowing money and being in debt is not bad for it is part of every business. Making use of your capacity to create future income and use that in order to create present benefits to be used for expansion and business enhancement is one of the best strategies in business.
That is where debt management come in and became very important. One of the ways to manage debt is through IVA or Individual Voluntary Arrangement. IVA is a legally binding agreement with your creditors that will be overseen and supervised by licensed insolvency practitioners who are also chartered accountants.
There are various ways you can apply for an IVA but here is an easier way.. by visiting this website which offers IVA services for people.
Clear Debt's site is full of debt help / IVA resources to help you understand your situation, cut your household costs and plan a route out of debt.
If you owe more than you think you can repay, or you are worried about becoming bankrupt, a ClearDebt IVA could lower your total debts, ensure you pay no more interest and help you become debt-free in five years or less.
To see how much less you could be repaying every month, while avoiding bankruptcy, take the free two minute ClearDebt Analyser now. If you feel you are ready to apply for an IVA right now, here is our more detailed questionnaire.