Tuesday 30th of November 2010
People who have allowed their debts to build up to an unsustainable level may decide to take action sooner rather than later by asking individual voluntary arrangement (IVA) questions, following comments from one expert.
David Rodger, managing director of the Debt Advice Foundation, stated that people are often reluctant to face up to their monetary problems because it is a situation they would rather not think about.
"Often people who call us can have waited months and even years before seeking help with financial problems," he noted.
Mr Rodgers added that the earlier debt worries are dealt with, the easier it is to deal with them.
This may lead those deep in the red to ask IVA questions in an attempt to wipe their slates clean and start again.
The service is available to those who owe more than £15,000 on unsecured financial products and helps Brits by consolidating all existing debts into one manageable monthly payment.
By Ashley Littley
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