- Tuesday, 30 June 2009Large quantities of people are struggling to adapt to the recession and alter their lifestyle; a trend that could see an increase in the need for
IVA solutions.
Research from LV= indicates that people are working their way through their savings rather than living according to their means.
With the recession expected to last well in to 2010, many peoples' lifestyles could result in the loss of their savings and see an increase in the need for debt solutions.
Mike Rogers, LV= group chief executive, said: "Rather than…eating into savings, it is important for people to take stock of their financial situation."
Only four per cent of adults have taken out insurance against loss of income despite 33 per cent suggesting it is an issue that they could well be affected by the recession.
The survey found that 25 per cent of people had actually cut insurance or started to use their savings to maintain a certain standard of living.
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