- Friday, 12 June 2009The number of people seeking advice on how to get an IVA and other debt issues is an indication that many households are reaching "breaking point", it has been claimed.
IVA statistics from financial charity Credit Action show that 323 people entered into the
IVA process or were declared bankrupt on May 27th.
And the number of people declaring bankruptcy or setting up an IVA is expected to increase to 435 per day by the end of 2009 - one every 3.3 minutes.
Chris Tapp, director of Credit Action, suggests that the number enquiring about how to get an IVA, or seeking other forms of debt advice, is not simply due to paranoia.
"More people are worried about their finances not because they are a bit more paranoid than they were previously but because, unfortunately, more people are in trouble with their finances," he comments.
As a result, the IVA statistics show that more people are choosing to speak to an expert over the phone in order to discuss their options.
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