Thursday 13th of August 2009
IVA advice and other forms of financial guidance could be of benefit to the entire family - and not just the individual who receives the assistance - according to figures from National Savings & Investments.
The organisation has published its Families, Finance and the Future report, which was compiled on its behalf by the Future Foundation.
It reveals that three-fifths of people feel comfortable sharing tips about money - which could include IVA advice - with their family and close friends.
Almost as many (55 per cent) also feel relaxed enough to discuss their own financial situation with their family and friends.
The news follows figures from the Association of Investment Companies that indicate more generations are becoming involved in helping their student offspring with their debt management efforts.
One in eight grandparents now contribute money towards their grandchildren’s university education, the organisation found, while three-quarters of parents believe their ability to help out has been affected by the recession.
By Neil Burton
- 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
- People put up with debt 'because they are too afraid to speak out'
