The UK Insolvency Debt Advice Service has seen a 40 percent rise in calls it has received in the first 4 months of year, when compared with the same period in 2009. If you are struggling to pay back unsecured debts and owe more than £15000 on things like credit cards and store cards, an Individual Voluntary Arrangement (IVA) is a good alternative to bankruptcy. You can pay a more manageable amount over 5 years before going debt free. Debt Relief Orders (DRO) can help people owing smaller amounts. Spokesperson Richard Sorsky believes the global economic situation has made people feel more nervous about their own finances. He says “They see Greece going into recession, they see America in recession and they’re now thinking crikey I’ve got to get help now”.
Britain’s savings culture needs boost
June 2, 2010 By
