- Tuesday, 31 March 2009IVA solutions could be of benefit to the one in six Britons who are currently "hard hit" by rising costs and reducing regular earnings and disposable income.
Financial research organisation BDRC reveals that 17 per cent of consumers are being forced to reduce their expenditure due to the economic conditions.
Mark Long, director of BDRC, says: "We all know that the economy is tougher and that people are losing their jobs and some businesses are closing."
However, he does note that spending remains positive on some discretionary purchases that are seen as essential by consumers.
These include insurance and pension contributions, as well as mortgage repayments.
For those who find they are unable to meet these costs, however,
IVA help could be one avenue to pursue.
IVA solutions can reduce the total amount owed by up to 70 per cent by helping to write off some of the debts an individual has outstanding.
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