Sunday 17th of October 2010
Individual voluntary arrangement (IVA) answers might be beneficial for people who are worried their debts will stop them being able to afford their energy bills this winter.
According to new findings from the government, the number of UK households living in fuel poverty rose to 4.5 million in 2008, compared to four million the year before.
Furthermore, the study predicts the proportion homes in fuel poverty in England alone now stands at around the four million mark, levelling off slightly after a recent reduction in energy prices.
Answers on IVAs may, therefore, be useful sources of income for growing numbers of people who find their mounting debts are hindering their ability to pay the bills.
The measure could have you completely debt free after around five years, with the reduced-rate monthly repayments potentially offering you more control over your finances.
Commenting on the news, Friends of the Earth climate campaigner Dave Timms, says it's a "disgrace" that "over four million households are still living in fuel poverty in the 21st century, as a result huge numbers of vulnerable families, pensioners and children are suffering from ill health and high energy bills".
By Kimberley Parsons
- 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
- Number seeking IVA help rises by a fifth
