Child trust funds are set to be scrapped. The coalition government made the announcement that payments under the scheme will be sharply reduced in August. They will stop completely by January 2011. If your debt problems mean you are struggling to save for your child’s future an Individual Voluntary Arrangement (IVA) could help. A person owing more than £15000 in unsecured debts can pay a more manageable monthly amount over a 5 year period before going debt free. Debt Relief Orders (DRO) can help people owing smaller amounts. Family and friends will be able to add up to £1200 a year and the government will not withdraw any money that has already been put into the accounts.
Child trust funds scrapped
May 28, 2010 By
