Nearly a quarter (22 per cent) of Britons try to take an ‘ostrich’ mentality to their financial problems and bury their head in the sand. This form of debt management will only lead to more money woes in the future, warn Scottish Widows. People searching for debt solutions are much better off speaking to a financial expert and entering a debt management scheme, such as an Individual Voluntary Arrangement (IVA). If debts are in excess of £15000 and there are more than three creditors, a person can apply for an IVA which can deal with their debt problems in five years. This could come as a great relief to over a fifth (22 per cent) of people surveyed by Scottish Widows, who feel that they are too indebted to ever feel secure.
A quarter of Britons try to ignore debt
April 29, 2010 By
