Wednesday 5th of January 2011
A number of people in Britain deep in financial turmoil may wish to seek individual voluntary arrangement answers to help get them out of the mire.
New research from Santander Mortgages has found cash-strapped individuals are eager to halt their financial slide by cutting costs wherever they can.
The survey revealed millions of homeowners are turning to second-hand goods - such as furniture, electronic products and other household items - rather than buying brand new goods.
It showed 28 per cent of home furnishings are now either used, borrowed or handed down.
Director of Santander Mortgages Phil Cliff stated: "Furnishing a property with used items is an excellent way to save money as the premium for brand new household goods is often excessive."
The findings come after the Insolvency Service claimed the number of people filing for insolvency in Britain remains at a considerable amount, with pensioners among those most prone to bankruptcy.
By Rachel Powell
