What is an Individual Voluntary Arrangement? Why Should I Apply?

What is an Individual Voluntary Arrangement?

An Individual Voluntary Arrangement (IVA) is a formal debt solution that allows people to pay back a portion of their unsecured debts over time, and write off any that they can’t afford. This can help people with serious debt problems to regain control of their finances and get their lives back on track.

IVAs are available in England, Northern Ireland and Wales. They can be set up as monthly instalments or a lump sum. You must qualify to make an IVA.

How an Individual Voluntary Arrangement works

An IVA is an agreement between you and your creditors to repay a portion of your debts. It’s a legally binding deal that needs to be agreed by at least 75% of your creditors.

It’s a formal process that usually lasts for around five years (depending on the length of the IVA). You can release equity from your property as part of your IVA, and it can also include one-off settlements.

If you’ve got mortgage or rent arrears, it’s important to check with a free debt adviser about whether your creditors will agree to this in your IVA. They may not, so you could end up paying more than you can afford.

Your credit score is likely to be affected by an IVA. It will be on your credit report for six years, but once it’s marked ‘completed’ your score will start to improve.

We can help you find the right debt solution for your situation. Book your free initial consultation today!

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GPS Trackers Can Potentially Help Save Millions for Public Schools

GPS Tracking Systems Good for Public School Buses

The public school bus system in Cobb County, Georgia, has been utilizing GPS tracking systems to monitor and track its fleet of school buses. Prior to implementing the new GPS tracking technology, the county received numerous calls each day from flustered parents whose children were not picked up by the bus that day.

Whether the child overslept and missed the bus or the driver actually pass by the stop, school administrators had no way of confirming which reason it was. As a result the district paid for the additional gas, and sometimes overtime, to send a bus driver back out to pick up the child.

Since installing the GPS trackers, those so-called “courtesy runs” have been drastically reduced, as have parent complaints. And Cobb County school officials are crediting a device that’s no bigger than a cell phone.

The GPS tracking system monitors the current location of each school bus in its fleet, if and when a bus is stopping to pick up children and the speed limit. School administrators say the GPS devices provide crucial data to help create a better, safer service to and from school. However, driver advocates argue that they are an unnecessary expense, coming at a time when the school system can least afford it. They also argue that the devices are being unfairly used against the bus drivers.

“This system provides a level of safety equal to a supervisor on every bus,” said Lynn Simpson, the director of Fulton County Schools’ transportation department.

Although the GPS system costs about $600,000 a year, school officials say it saves $1.2 million annually by cutting down on gas mileage and driver overtime.

Bus GPS Fleet Tracking Provides More Than Cost-Savings

Administrators have used the GPS system to track how long bus drivers are on the road, which they say has effectively lowered overtime costs by cutting down on the timesheet exaggerations or inaccuracies that sometimes happen when they rely on drivers memories. This not only allows them to keep more accurate times on their drivers, they also provide a greater degree of accountability for both drivers and administrators.

The GPS devices also help the school system map more efficient routes. This allows drivers the ability arrive at their designated stops on time in the case of detours or accidents.

More importantly, administrators say the complaints made by parents have gone down since using the GPS tracking system.

“Now we know, for a fact, if buses are stopping on time,” said Rick Grisham, the director of Cobb’s transportation department. “Before, we were relying on bus driver and parent testimony.”

However, bus driver advocates say managers are using the data obtained from the tracking technology and using them against bus drivers, accusing them of speeding, driving recklessly, getting lost and dropping students off at school late.

“Employees don’t feel, as a whole, that the technology is being used to work together but as another tool to isolate individuals and go after them for termination,” said Mark Perez, a field representative for the Georgia Association of Educators, which advocates for bus drivers.

Perez said the costs are extraordinary at a time of state austerity cuts.

“Districts are reducing bus routes they offer to parents and reducing salary and benefits to employees to make up for the budget shortfalls,” Perez said. “And yet they’re spending a large amount of money for a new system that seems to be nice, but are they the most prudent expenditures inside the current economic situation? It’s like you would like to put in a nice deck or build a new pool but your house is upside down in mortgage. It’s not good math.”

Grisham, however, stands in full support for the new tracking system, as well as for the other tools that the administration has implemented to provide a safer, more efficient and cost-effective service for its students.

“It’s a non-stop battle to come up with ways to keep students safe,” Grisham said. “Minutes and seconds matter a lot in our business.”

Real-time GPS tracking systems, such as Tracking System Direct’s Connect GPS, can potentially help public school systems like Cobb County save millions in wasted time and fuel costs. It allows dispatchers and fleet managers the ability to monitor and track each bus in real-time from an internet-enabled computer, laptop or even a mobile device, such as a smartphone or tablet, without having to contact the drivers and asking where they are.

And with the ShareSpot® feature, parents will be able to see precisely where their buses are in real-time from the school district’s website. This is especially helpful during inclement weather conditions. Parents can track where their buses are along its route and have their children at their stops right when the bus arrives instead of having to wait around and guess.

For more information about Tracking System Direct and the companies’ real-time GPS fleet management solutions, please visit them online at:

https://www.trackingsystemdirect.com