Figures from the British Bankers Association (BBA) show more people are paying off debts. The amount consumers in the UK took on in April contracted by £0.3billion, while repayments to loans and overdrafts exceeded lending by £507 million. If you are struggling to meet your debt repayments there are several good alternatives to bankruptcy. Individual Voluntary Arrangements (IVA) are available to people owing over £15000 on things like credit cards or store cards. You can reach an agreement with your creditors to pay a more manageable monthly amount over 5 years. Last month net lending by major banks fell to its lowest level since November 2001.
More people paying debts than borrowing
May 28, 2010 By
