Tuesday 18th of January 2011
Workers in Britain who are having a hard time keeping on top of their debts may find they need to start asking individual voluntary arrangement (IVA) questions in the near future.
This is because Trades Union Congress general secretary has claimed employees are facing a difficult 12 months ahead.
The industry commentator's comments come as the latest figures published by the Office for National Statistics show the Retail Prices Index rose to 4.8 per cent in December and the Consumer Prices Index jumped to 3.7 per cent.
He noted the news means prices are running ahead of pay deals and claimed: "This will make a tough year for workers even harder to bear, particularly for public servants suffering a sharp real terms pay cut."
And seeking IVA answers could become more commonplace in 2011 as editor of CashQuestions Annie Shaw recently claimed debt is now an accepted part of everyday living for many.
By Neil Burton
- 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
- Financial safety net 'is important for Brits'
