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[W342]Weight On Your Shoulders

by Rakesh Gaikwad, Rak

An Individual Voluntary Arrangement, known as an IVA, is an agreement made between a debtor and his or her creditors to repay a percentage of the debts owed over the ‘life' of the IVA which is generally five years or sixty months. To ensure that monies are distributed evenly and fairly to the creditors the IVA is managed by an Insolvency Practitioner. The Practitioner ensures that the debtor is given the fairest and most honest, realistic opportunity to make regular monthly payments into their IVA fund. The fund is managed and supervised throughout the duration of the IVA by the Insolvency Practitioner.

An IVA can only be initiated by the debtor unless he or she is an undercharged bankrupt, if this is the case the trustee, Official Reviewer or the bankruptcy courts can initiate an IVA. When a debtor is facing bankruptcy the courts are obliged to consider whether an IVA might be a more appropriate solution than bankruptcy.

IVAs should not be seen as a way of simply paying debts off over five years and forgetting about it, there are some careful considerations to be made by the debtor in respective of the what is exactly required by them and the genuine commitment involved with an Individual Voluntary Arrangement. An IVA is a formal and legally binding arrangement.

There will be an marked effect on the debtor's current assets, savings and investments, although an IVA has less risk on these than bankruptcy there is never the less a risk. Debtors will be expected and indeed will have to agree to sell luxury items and re-mortgage their home as well as surrendering their savings and investments.

Problems which can lead to people falling into debt include problems such as having insufficient money to pay their mortgage, holiday debts, credit and store card debts, resulting in very little, if any, spare cash to live a reasonable lifestyle. By using an Insolvency Practitioner a debt can realistically look at amalgamating their debits into one monthly payment which is supervised by the Insolvency Practitioner. This will in turn lead them to having more spare cash and relieves the stress and pressure of numerous debts.

The Insolvency Practitioner can help by giving expert advise on all aspects of an IVA, reduce debts by having them put into one far more manageable monthly payment, stop creditors from harassing the debtor, freezing the interest on all debts, which in turn will lead to the debtor to have more spare cash and a better quality of life without the worries and health problems being in debt can cause.

It should be noted however, that although an IVA is an excellent opportunity for debtors to relieve themselves of the worries of facing bankruptcy and the stressful situations caused by debt, it should not be seen as a ‘cop out' and taken lightly. The agreed payments must be made to the Insolvency Practitioner every month and in as much as for most people the relief of not having to face creditors themselves is a tremendous weight lifted from their shoulders, they should not under estimate the commitment which is required with an IVA.

The air is composed of billions of tiny particles that are constantly moving in all directions, bouncing off whatever they encounter. These collisions constitute what is known as air pressure. The more collisions occurring within a certain area then the greater the air pressure will be.

We are completely unaware of this, but the air is constantly exerting pressure on us, on average this is 14 ¾ pounds per square inch. (1 kg per sq cm ) . Air molecules are naturally drawn towards the earth by gravity, and as a consequence the density of the air is greater near the surface of the earth. Therefore the number of molecules in a given area, the air pressure, decreases with altitude. These molecules are in constant motion and this prevents them from settling at ground level.

At sea level, standard air pressure is 1013, but typically the pressure varies between 980 and 1040 millibars (mb). As with any aspect of the atmosphere there are extremes and the highest and lowest recorded pressures are as follows:

The highest recorded atmospheric pressure, 1085.7 mb, occurred at Tonsontsengel, Mongolia, 19 December 2001.

The lowest sea level air pressure ever recorded was 870 mb in the eye of Typhoon Tip over the Pacific Ocean on October 12th 1979

Air pressure is measured using a barometer. Although the changes are usually too slow to observe directly, air pressure is almost always changing.

Weather maps showing the pressure at the surface are drawn using millibars. Air pressure can tell us about what kind of weather to expect as well. Winds blow in an attempt to combat the differences in air pressure. Wind is the movement of air over the surface of the Earth, from areas of high pressure to low pressure. A large change in pressure over a relatively small distance, a large pressure gradient, can result in far stronger winds. When the isobars are tightly packed, locations within that large pressure gradient can expect windy conditions. As air rises and creates an area of low pressure, water vapour in the atmosphere will condense and form clouds. However sinking air, in an area of high pressure, means that no condensation will take place. This is why low pressure is associated with cloudy skies and unsettled conditions, and high pressure is associated with clearer skies and drier conditions.

Winds near the Earth's surface rotate anti clockwise toward the centre of areas of low pressure and clockwise outward from the centre of areas of high pressure in the Northern Hemisphere, with an opposite flow (clockwise around areas of low pressure and counter clockwise around areas of high pressure) occurring in the Southern Hemisphere. The main reason for this pattern is the Coriolis force, which results from the Earth's rotation on its axis and deflects wind to the right in the Northern Hemisphere and to the left in the Southern Hemisphere.

So keep tapping your barometers and feel the weight of the air pressing in around you!

Article Source : Pg. 214

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Both Rakesh Gaikwad & Mark Boardman are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Rakesh Gaikwad has sinced written about articles on various topics from Finances, Home Management and Auto Insurance. Money Solve is a company dedicated to help people out of their financial difficulties with solutions such as an , an Individual Voluntary Agreement to get their life. Rakesh Gaikwad's top article generates over 49500 views. to your Favourites.

Mark Boardman has sinced written about articles on various topics from Finances, Education and self improvement and motivation. Mark Boardman BSc dip.hyp is an experienced Hypnotherapist and highly qualified EFT and TAT practitioner. After a childhood interest in the Weather Mark went on to study Climatology at University and has continued his studies for the subsequent 20 years.. Mark Boardman's top article generates over 880 views. to your Favourites.