Wednesday 9th of June 2010
Individual voluntary arrangement (IVA) answers may provide some much-needed information on how working women can shore up their finances when they have large debts to deal with.
According to the Consumer Credit Counselling Service (CCCS), growing numbers of men have called the charity in search of debt advice over the last three months.
However, chairman of the body Malcolm Hurlston goes on to explain females who are employed in the public sector could run into financial difficulties soon.
And this could lead to answers on IVAs becoming important resources for cash-strapped ladies.
"The proposed [government] cutbacks in the public sector, traditionally a major employer of women, may well impact on their earnings as well," he says.
IVAs could offer a helping hand because they give people the chance to get out of the red after around five years, albeit with hard work and discipline.
Those women out there who have decided they need to sort out their finances and wipe out their unsecured debts in preparation for any unexpected problems or loss of earnings could find they are a sensible option at the moment.
Because who knows what the future may hold when it comes to the economy and employment?
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
- IVA could be best way to prepare for looming household bills rise
