Friday 11th of March 2011
A double-dip recession in the UK could have a considerable effect on the finances of many - and for those already struggling to contain their debts, it may result in them seeking IVA answers to improve their situation.
New research from the Chartered Institute for Securities and Investments has found that many financial services practitioners believe that such a downturn could be on the cards.
The study showed that more than one-third think a double-dip recession is likely, following news that the UK economy shrank by 0.6 per cent in the final quarter of last year.
A respondent involved in the survey said: "Rampant inflation will reduce consumer spending and the inevitable interest rate rise will be the final nail in the coffin."
Research recently carried out be the Council of Mortgage Lenders and highlighted by homelessness charity Shelter showed that 25 per cent of UK homeowners were not aware that interest rates are at a record low.
By Ashley Littley
