- Monday, 22 June 2009Debt-hit Britons should consult
IVA specialists without delay if they enter financial difficulty, it has been suggested.
Jim James, north-east regional chair of debt recovery association R3, makes the claim in an article for The Journal.
He tells the publication that licensed insolvency practitioners can provide
IVA advice and guidance on similar products such as bankruptcy and Debt Relief Orders "without bias".
Mr James adds that the headline number of people who have consulted
IVA specialists in recent months could be the "tip of the iceberg".
His comments reflect figures from R3 that show 700,000 people with debt difficulties are not included in official government figures.
As a result, the real-terms number of Britons seeking
IVA advice or other help with their debts could be closer to a million than the 190,000 claimed in official statistics.
In May, R3 published figures showing that insolvency practitioners anticipate a 31 per cent annual growth rate in people declaring themselves bankrupt or entering into an IVA before the end of 2009.
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