- Thursday, 8 October 2009People with large incomes could be in need of
individual voluntary agreement (IVA) advice as much as those with lower incomes.
This is according to the Guardian, which cites a number of financial experts and advisory charities commenting on the fallout from the withdrawal of easily-available credit.
Speaking to the newspaper, head of loans at Moneysupermarket.com Tim Moss suggested that high earners are looking at the possibility of IVAs as a direct consequence of the credit crunch.
"Whereas before they could easily transfer credit card balances to no-interest cards, those deals have now dried up," he said.
Mr Moss recently said that those with debt problems should consider help from the Citizens Advice Bureau (CAB) instead of burying "their head in the quick sand of debt".
Elsewhere, the CAB has seen increasing numbers of homeowners on incomes seeking debt advice, as opposed to people with low or no incomes in rented accommodation.
A spokesman from Worcestershire CAB said it was "a sign of the times" that larger numbers of people are looking for new ways to save money and find debt problems.
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