- Tuesday, 10 March 2009For Britons struggling to keep pace with rising monthly outgoings,
IVA advice could be one avenue to pursue.
Just Retirement reports that food price inflation is placing new pressures on people who have previously been able to live off their assets.
With the base rate of interest falling at the same time, this is leaving people who rely on the income from their savings with less money coming in on an ongoing basis.
A Just Retirement spokesperson says: "We would recommend anyone struggling in the current climate to consider all of their options.
"The right advice at this point could help them release funds essential to maintain them in a comfortable retirement."
For those who are struggling with rising debts, rather than falling assets,
IVA advice could help to reduce their outgoings.
Under some IVA conditions up to 70 per cent of the total amount owed can be written off, which may leave more money for essential outgoings such as food.
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