Where you live has a major impact on your disposable income and could influence whether you need to find debt solutions in the future. No matter where you live though, if you find yourself in serious debt you could always take advantage of an Individual Voluntary Arrangement (IVA). IVAs are an alternative to bankruptcy for people with debts in excess of £15000. If your creditors agree, it could mean that your debts are paid off in five years. The North East of England has the lowest disposable income in the UK, at just over £12500 (£12543), according to the most recent figures from the Office of National Statistics (ONS). As expected, London has the highest level at just over £19000 (£19038), whilst the national average is a little under £15000 (£14872).
Income gap widens leaving many in debt
April 6, 2010 By
