What is a PTD

25 Jul 2011 | by Admin | No Comments »

A PTD, or a Protected Trust Deed to give it its full title, is a formal debt solution for people suffering a serious debt problem in Scotland. To qualify for a PTD the applicant needs to have unsecured debt level greater than £10,000 and must owe his debt to more than 3 different creditors.

The PTD can only be prepared and administered by a licensed Insolvency practitioner, who takes on the role of the Trustee. As Trustee, his responsibility is to ensure that the terms of the agreement are being adhered by all parties.

The Protected Trust Deed has a fixed term, which is usually set to 36 months, and payments are based on affordability. Full Post…

Tags: Protected Trust Deed

What is an IVA

25 Jul 2011 | by Admin | No Comments »

An IVA is a formal debt solution that helps people with serious debt problems reach an agreement with their creditors to repay as much as they can over a fixed term, whilst avoiding bankruptcy. After the fixed term has completed, the agreement stipulates that the creditors will write-off the remaining unpaid outstanding debts.

Due to its formal nature, the IVA also brings the applicant several other major benefits. It legally obliges creditors to freeze the interest on the balances whilst the IVA is in force, it legally obliges them to stop adding charges and late payment fees and it precludes the creditors from taking legal action to enforce the debt so long as the terms of the IVA are being maintained.

Last year over 50,000 people entered into an IVA as a means of dealing with their debt problems, with many having little or no alternative practical action available to them other than bankruptcy. Full Post…

Tags: IVA

Introducing the IVA : The ‘Non Borrowing’ Option

25 Jul 2011 | by Admin | No Comments »

There are times when getting quick access to credit is a lifesaver and knowing that there is a financial cushion behind us in the shape of a credit card is almost a complete must in this modern age.

Being able to use a credit card as a financial shock absorber is one of its primary functions with it taking up the strain when something unexpected happens. But eventually the credit will need to be repaid, so what do you do if you realise that you just can’t afford the repayments on your debt any longer?

Well, there is a ‘none borrowing’ option available in the UK and its known as an IVA. IVA is short for Individual Voluntary Arrangement and an IVA is a formal debt solution, which acts as an alternative to bankruptcy for people suffering from serious debt and credit problems.

G Full Post…

Tags: IVA advice

J.P. Morgan Select Visa Signature® Card Review

21 Jul 2011 | by Porfirio Hillman | No Comments »

The J.P. Morgan Select Visa Signature card is a travel rewards card that allows you to earn extra points for your travel related purchases. The card also offers a low variable rate and the annual fee is waived for the first year which is $95. This card has no pre-set spending limit and there are no foreign transaction fees.

  • No pre-set spending limit
  • Annual fee waived first year, after that its $95 per year.
  • Earn 2 points for every $1 on travel purchases
  • Earn 1 point for every $1 on all other purchases
  • No blackout dates and you will enjoy unlimited rewards.
  • Low APR
  • No foreign transaction fees, late fees or over the limit fees.

The J.P. Morgan Select Visa Signature card offers a low rate of 13.24% on both purchases and balance transfers. This rate may vary based on changes to the prime rate.

Full Post…

Tags: Card Morgan Select Morgan Select Visa Select Visa
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