- Wednesday, 24 February 2010An
IVA may be needed by the increasing number of people seeking help with debt and benefit problems.
New figures from the Citizens Advice Bureaux (CAB) reveal that its centres in England and Wales are dealing with 9,500 new debt problems and 8,200 benefit problems every working day.
Debt and benefit issues now account for over 60 per cent of the CAB workload, and enquiries are growing at an annual rate of 24 per cent, claims the charity.
Many people are struggling to pay essential household bills and are relying on overdrafts to meet daily living costs.
CAB chief executive David Harker said the figures gave a "stark insight" into the human cost of the recession.
"We may officially be in recovery, but for many people the damage done by the economic downturn is long-lasting and far from over," he said.
"Even more people are now worried about the further pressures on their household budgets from rising prices and exceptionally high winter fuel bills."
Separate research from moneysupermarket.com reveals that five million adults live on their overdraft, and a further 12 per cent are finding themselves in the red five times or more a year.
Insolvency Practitioners at Money Debt and Credit Ltd act without any personal liability
Money Debt and Credit Ltd, Registered in England & Wales No.05588842.
Registered Office: 45 Clarendon Road, Watford WD17 1SZ