Thursday 13th of January 2011
2010 could see an increasing number of people asking individual voluntary arrangement questions as it has been claimed debt problems are likely to persist throughout the year.
Annie Shaw, editor of CashQuestions.com, said an unclear financial future will result in many UK adults experiencing trouble when trying to pay back what they owe.
The industry figure claimed some sectors - such as mortgage borrowers - benefited because of the recession, but this is now likely to change as the good rates are coming to an end.
She noted: "We are likely to see a rise in interest rates so this would really impact on people managing to get by."
Any initiatives to help get people out of their dire financial predicament should be welcomed, Ms Shaw added.
Justin Modray of Candid Money recently noted the number of adults in the UK who took out an IVA shot up by more than 14 per cent last year.
By Ashley Littley
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- 32% of young women 'make financial decisions'
