Wednesday 21st of July 2010
Individual voluntary arrangement (IVA) answers could offer invaluable information and support to those of you who are concerned your financial troubles are impacting on relationships with your loved ones.
New figures from the Consumer Credit Counselling Service (CCCS) show 37 per cent of respondents to a survey admit a debt problem has negatively affected relations with their partner, with 22 per cent saying the same about the bond with their kids.
Furthermore, the study reveals 46 per cent found money troubles impacted on their health.
IVA answers may, however, show those of you who feel the same that there is a way of getting your bank balances on track and providing a welcome boost to your private life.
An IVA gradually erases unsecured debt worth more than £15,000 over a period of five years and might empower you to take responsibility of your finances once and for all.
CCCS external affairs director Delroy Corinaldi comments: "There is a lot of focus on the economic implications of the personal debt crisis but we are only starting to understand the human cost of debt problems."
By Mark Waterman
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- 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
- IVA help could support poorer families
