There has been a great deal of press coverage recently over concerns
that personal debt levels are reaching crisis point, that
the culture of ‘spend today – pay tomorrow’
increasingly prevails, and how a whole industry centred on
the management of Individual Voluntary Arrangements (IVAs)
has suddenly sprung up.
Regardless of what you read or
see advertised on TV, one thing is for sure – there are
literally hundreds of thousands of people out there struggling
with debt problems. So if this sounds like your situation and
you’ve been suffering in silence, then don’t –
you are not alone. No matter how much debt you have, we can
help find a solution. Take a look at what
we do and then contact
us.
To put the record straight and help separate
fact from fiction, we have summarised the market fundamentals
below.
¤
the average size of debt for
people becoming insolvent using IVAs
is approximately £52,000
¤
growing numbers of people are
entering insolvency with debts of between £20,000
and £35,000
¤
personal debts in excess of £100,000
are becoming increasingly common
¤
the number of people looking
for help with debt problems has increased nearly 50% since
2000
¤
more than 3 million credit cardholders
in the UK can afford only the minimum payment each month
¤
at least 6 million families are
struggling to keep up with their debt payments
¤
more than 1,000 people a week
enter into an IVA,
and a similar number go bankrupt
¤
the ratio of men to women with
personal debt problems is closing, with about 56% male,
44% female
¤
in Scotland, the average size
of personal debt is roughly 31% higher than in the rest
of the UK
¤
debt is an ever-growing problem,
and if left unchecked can damage your family, relationships
and health.
Call us free on 0800 084 2208. Our phone lines are open from
8am to 8pm Monday to Friday, and 9am to 5pm on Saturdays.
Alternatively you can contact
us through this website. We are always happy to help.
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