Hi there

I am currently researching debt resolution options and had heard about Simple IVAs, otherwise known as SIVAs. However, a friend said to me today that the Government are now not going ahead with this. I know I can opt for an IVA, but wondered if anyone could shed some light on this?

I did find the below quote on another site, so am figuring this isn't great news for people like me who are worried about debt as the credit crunch is hitting home :(

Commenting on the Government announcent to scrap new debt rescue tool, DRF (Debt Resolution Chairman) David Mond comments "It is impossible to understand why, just at the moment when more people need more help with debt than ever before, the government should decide to destroy years of work by the debt resolution sector, money advice charities and lenders by scrapping the introduction of the SIVA."