Friday 11th of June 2010
Credit cards continue to remain popular among Brits who want quick and easy access to cash.
Information on individual voluntary arrangements (IVAs) could, however, offer assistance to those of you who are sick of racking up debt on plastic and want to sort out your finances once and for all.
According to figures from Prepaid Credit Cards, the number of people signing up for prepaid cards has grown significantly over the past few weeks, as they prepare for a summer of serious spending.
But many may have been burned by credit cards in the past and could now find themselves in serious amounts of debt, struggling to get by.
IVAs, though, might help cut down on the money you owe worth more than £15,000 and offer you a debt-free future, if you have the means and the discipline to meet the reduced-rate monthly repayments.
Given they take around five years to complete, it could be that now is the right time to start researching IVA info and get the ball rolling on securing your financial future.
And you may find you’re able to turn your back on your credit card habit once and for all.
By Hayley Jones
- 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
- Struggling with debt? Asking IVA questions online may help
