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UK Debt News Personal Finance Press Releases Financial News Money Saving Tips IVA News Scams and Fraud Warnings Consumer News Website Updates Debt Question of the Week? Payplan Press Release Grantham Other Mortgage Advice Payplan Media Release Question of the Week ?

IVA Advice Increases as Recession Fears Loom

Writing by Paul on Monday 28 January 2008

IVAs and Levels of Bankruptcy to Rise

Chris Tapp from Credit Action has raised concerns that there will be a rising demand from those struggling with mounting debt problems for free debt advice, IVA advice and bankruptcy advice in 2008.

Will House Prices Fall 5% in 2008?

According to Credit Action UK debt now stands at £1.4 billion, and with the average household owing nearly £9000 in unsecured debts such as credit cards and personal loans, the current economic gloom with predicted house-prices falling 5% across the UK and the credit crunch squeezing debtors’ options to re-finance it is imperative that debtors take free debt advice to review their options sooner rather than later.

Job Cuts Fear for Debtors

An increase in IVA applications and personal insolvency such as bankruptcy is widely predicted as a result of the current economic climate. A recent Deloitte Economic Review has stated that employers may need to “wield the axe more sharply” to prepare for a possible recession within the next 2 years. For those already with poor credit and bad debts and who are unable to meet their commitments on credit cards and their mortgage payments, the loss of income from unemployment could be the final straw.

Get Free Debt Advice

For those who are already struggling to pay their debt, be it credit cards, personal loans or their mortgages, it is important to take free debt advice as soon as possible. As well as giving experienced and professional free debt advice, Payplan offer free debt management plans (DMPs), and Individual Voluntary Arrangements (IVAs) advice and can help suggest ways to maximise your weekly or monthly budget.

Call Payplan free on 0800 917 7823 or for detailed free debt advice online, or to enquire about which free debt solution can benefit you (DMP, IVA or Mortgage Advice), submit your details through the quick and simple Debt Calculator

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