www.debtfreedirect.co.uk – Middle class Brits have been worst affected by the recession. Figures from credit agency Experian show personal insolvencies rose by 38 percent in 2009 among professional families, retired couples with good incomes and young City workers. The number of working class people being declared insolvent rose by 13 percent. If you are struggling with your debt management, an Individual Voluntary Arrangement (IVA) is a good solution – http A person owing over £15000 on things like loans and credit cards can pay back a more manageable monthly amount over a 5 year period. Debt Relief Orders (DRO) are available to more vulnerable borrowers owing smaller amounts. Experts are warning to expect the figures to rise sharply once interest rates rise.
Surge in middle-class insolvencies
May 24, 2010 By
