Wednesday 22nd of December 2010
People who are already struggling to keep on top of their debts may need to ask individual voluntary arrangement (IVA) questions to help them better organise their finances, as it has been found many individuals are not able to effectively manage their cash flow.
New statistics from R3 have revealed nearly 38 per cent of individuals in Britain struggle to make their monthly wage packet last them across the four-week period.
The organisation noted this equates to 18 million people up and down the country - some of whom may find seeking IVA answers presents them with a chance to get their money in order.
Steven Law, president at R3, said: "It is evident that many people under financial pressure pay little regard to planning how their pay-cheque is spent."
Aviva recently advised homeowners to take measures to ensure their pipes do not burst this winter - as a costly bill could result if the items freeze during the current cold snap.
By Mark Waterman
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