- Tuesday, 10 March 2009Despite a falling headline rate of inflation, an
IVA debt solution could still be needed by some Britons.
Figures from the Institute for Fiscal Studies show that some groups of consumers are still facing inflation rates significantly above the national average.
Such groups could find an
IVA debt solution to be one option should their rising household costs place their financial situation out of reach.
And the present climate could be particularly challenging for some, as the institute reports there is currently more variation in real-terms inflation between different groups.
Indeed, vulnerable groups such as the elderly and the poor are currently at the greatest risk, with food prices up nearly ten per cent year-on-year.
This compares with the headline figure from the Office for National Statistics of 0.1 per cent for a typical basket of goods in January 2009.
Financial services provider Scottish Widows adds that pensioners are among the least able to reduce their outgoings, as much of what they spend is on essentials.
Such individuals could look to
IVA solutions to help prevent any debts they may be carrying from becoming untenable.
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