Wednesday 12th of January 2011
Individual voluntary arrangement answers may soon be sought by an increasing number of people in Britain who are already finding it difficult to keep on top of their finances, as new research has highlighted the bleak monetary forecast for many.
Carried out by Skipton Building Society, the study found 33 per cent of adults in the UK have no spare cash and are therefore unable to put any money aside each month.
The investigation showed 24 per cent of those questioned have no savings whatsoever, while 25 per cent said they have put away what money they can but are concerned it is not enough.
It was revealed that more than half - 55 per cent - of respondents were unable to save £100 a month.
Head of products at the organisation Kris Brewster said: "If you are struggling it can often help to speak to a friend or an adviser who can guide you through the money maze."
Scottish Provident's Financial Safety Net report recently found many people do not consider themselves to be in serious debt until they owe around £15,000.
By Mark Waterman
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