Sunday 28th of November 2010
IVA info may be needed by many as the UK's economy suffers from the problems in the eurozone, something an expert has warned is a real prospect.
Speaking in the wake of Ireland's bail-out and speculation over possible similar action in other countries such as Portugal, editor of InvestmentandBusinessNews.co.uk Michael Baxter warned Britain will suffer if the crisis continues.
He explained the one way Britain can recover from the recession at a time when price rises are oustripping wage increases and government spending is falling will be to increase the number of experts.
Mr Baxter noted the majority of these go to the eurozone countries and these have been tipped to rise next year.
"But the problems in the eurozone are going to work against that and it's going to limit that and that's the problem," he added.
Those struggling financially may find themselves in deeper problems if the economic situation leads to a slowdown in job creation or further job losses.
Aviva's bi-annual SME Pulse survey of small and medium enterprises found as 30 per cent of them believed a double-dip recession next year is possible.
- 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
- IVA help could support poorer families
