There are some Trust Deed pros and cons that should be considered before setting one up. These include the legal binding nature of the agreement, the potential to earn 8% – 12% returns on investment, and the potential negative impact on credit rating. The pros and cons of setting up a Trust are explained below. …
Trust Deed Pros and Cons – Should You Set One Up? Read More »
What Are Trust Deeds? The pros and cons of Trust Deeds are clear, but there are some downsides. During the transaction, homeowners must give up 100 percent of the equity in their home, which increases the debt payment. The property is appraised at the start of the transaction. However, payment arrangements for the equity can …
If you have bad credit, you might be struggling to make payments to your creditors. The good news is that once you’ve been approved for an IVA, creditors will stop calling. In fact, they’re legally obliged to stop calling you as soon as the IVA is approved. In addition to this, you’ll no longer have …
IVA Pros and Cons – Are IVAs a Good Long-Term Solution? Read More »
First, you may be wondering: What is an IVA? This is a one-off payment to your creditors, and it has some negative effects on your credit rating. Here’s what you need to know. An IVA will lower your credit score, but this is a trade-off. If you can pay your creditors every month, you will …
What is an IVA and How Does it Affect Your Credit Rating? Read More »
A good question is: How Does an IVA work? Essentially, it is an agreement between you and your creditors about a set budget of living expenses. In addition to your monthly income, you must also declare all expenses that you normally spend each month. If your creditors do not agree to this plan, you may …
Are there any costs involved in setting up a Trust Deed? In this article, you will learn about fees associated with setting up a Trust Deed, what is the Trustees Realisation Fee, and how Power of sale clauses work in a Trust Deed. We’ll also discuss what happens if someone dies before the Trust Deed …
What Costs Are Associated With Setting Up a Trust Deed? Read More »
A Trust Deed is a legal document that transfers your property to a third party. There are some specific limitations, however. For example, you cannot transfer your joint and several debts, and any Secured loans cannot be transferred. A Trust Deed cannot include your rent arrears and any fines or compensation orders issued by any …
How Do I Apply For An IVA? This article explains the principles of an IVA, the credit rating effects and what assets may be included in a proposal. If you have bad credit, it’s especially important that you consider the pros and cons of applying for an IVA. To find out if an IVA is …