- Tuesday, 12 May 2009The number of people setting up an IVA could be about to rise by almost a third, it has been estimated.
Liverpool Daily Post reports IVA statistics from R3 North West - the association for business recovery professionals.
According to R3, personal insolvencies - incorporating bankruptcy and
IVA solutions - could rise by 31 per cent to 139,000 individual cases by the end of 2009.
More people could be considering setting up an IVA than was the case at the end of 2008, as the publication reports a drop in consumer confidence since then.
The latest report from the British Retail Consortium shows a "record low" in consumer confidence at present.
From a high of 101 in spring 2006, the index has since fallen to 65, driven downward by poor expectations of employment prospects.
Almost all of those surveyed (98 per cent) knew that the UK is now in a recession - but around seven-eighths (87 per cent) expect it to last for more than a further year from now.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
| |
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ
Consumer Credit Licence Number: 0580960