Saturday 19th of December 2009
If you rely on state-funded nursery care for your little ones then you could be concerned about reported changes happening in Brent.
According to the Kilburn Times, government changes to the private, voluntary and independent nursery sector means that some of the 90 nurseries in Brent which fall into this category may be forced to close.
With the loss of top-up fees, many parents like you whose children qualify for government-funded nursery places will have to find somewhere else to go - or pay the full cost yourself.
But if you have found yourself relying on loans and credit cards to cover the cost of raising a family then forking out for fees may not be an option.
However, you could decide to start repaying your debts through an individual voluntary arrangement (IVA).
An IVA could prove to answer your family financial concerns if you rely on your partner’s income - which is nowhere enough to clear your debt and cover the cost of running a household.
While repaying debt through an IVA may not help your current childcare situation, it could mean that further down the line, you have more disposable income to cover the expense of bringing up children.
By Mark Waterman
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- IVAs could prevent Britons from repeating their credit card mistakes
