Monday 12th of July 2010
Individual voluntary arrangement (IVA) answers might be an important source of information for householders who are struggling to pay the bills because of their mounting debts.
The Fuel Poverty Advisory Group says a growing number of hidden environmental taxes on their energy bills could lead to less affluent families in the UK encountering serious money troubles.
If you’re struggling to meet the cost of keeping the electricity on because of cash owed on unsecured financial products, answers on IVAs may show you it’s possible to free up income to go towards your everyday essentials.
Taking on average five years to complete, an IVA helps you cut down your deficit - if you have debts of more than £15,000 to three or more creditors.
Commenting on the warning from the Fuel Poverty Advisory Group, Ann Robinson, director of consumer policy at uSwitch.com, says: "Arguably lower-income households and the fuel poor have more to fear than most as these charges will account for a disproportionately higher amount of their already limited energy spend."
By Ashley Littley
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- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
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- IVA fight for entrepreneur to avoid bankruptcy
