I-Odysee! » debt http://www.iliadeodysee.com Technological Adventures on the World Wide Web. Mon, 23 Apr 2012 16:14:30 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Intercontinental debt consolidation: FYI, that wold be an IVA. http://www.iliadeodysee.com/2009/08/21/intercontinental-debt-consolidation-fyi-that-wold-be-an-iva/ http://www.iliadeodysee.com/2009/08/21/intercontinental-debt-consolidation-fyi-that-wold-be-an-iva/#comments Fri, 21 Aug 2009 10:18:43 +0000 admin http://www.iliadeodysee.com/?p=275 You live and learn, my friend – and that’s probably one of the best things about living, you always get to keep learning while you’re at it. At least as far as I’m concerned. Well, I’ve been making further research about debt settlements and credit consolidation (mostly because I’m a research junkie, but also because I like to keep informed about all kinds of technicalities that might someday be useful), and I came across a little picturesque tidbit of information: do you know how people refer to the very modern-age process of debt settlement over in good old Europe? FYI, that would be an IVA.

So, if case you’re curious about this kind of thing, I’ll sketch a quick rundown: IVA, also known as Individual Voluntary Arrangement, is an agreement between creditors and debtors. This kind of settlement is (obviously) of legal binding, and it’s used when people have no other way of paying off their debts. In other words, it’s the European term for Debt Settlement, and I’m wondering just how similar the processes are. So, maybe one of you international readers would care to shed some light on this issue? I mean, the way things are going these days, you never know when you’ll be forced to flee to Europe, and it’s always nice to have some kind of a backup plan. Right? ;)

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