As stats show a big jump in the cost of living in the UK, debt solutions like IVAs could help many Brits struggling to pay back money they owe. The rate of inflation has gone up more than expected according to official figures from the Office of National Statistics jumping to 3.4 percent. Soaring petrol prices, gas bills and plane tickets have all contributed to the rise which could hamper the debt management of many people. An Individual Voluntary Arrangement (IVA) can see people with unsecured debts of over £15000 pay back the what they can afford over 5 years, then go debt free. If the rate of inflation remains more than 1 percent above the Government target (2percent) in April, the Bank of England Governor will have to write an explanation to the Chancellor.
Cost of living rise
April 22, 2010 By
