Wednesday 19th of May 2010
Answers on individual voluntary arrangements (IVAs) could provide you with peace of mind if you’re worried about the effect of potential tax rises.
According to research from Aviva, it’s older Britons who are most concerned with the prospect of having to shell out more cash on levies in the aftermath of the general election.
In addition, it shows many are nervous about the rising cost of living.
And if they already owe money on credit cards and personal loans, it could give them even more of a headache.
IVAs, however, might offer you assistance if you have unsecured debts worth more than £15,000.
By chipping away at your outstanding balances, you may find you have a renewed ability to make your income go further and cope with escalating costs and taxes.
Seeking IVA answers, therefore, may be a smart move and help you get your finances in order before you end up deeper in the red.
Some 64 per cent of over-55s are anxious about tax rises, making it a bigger concern than health issues, the research highlights.
By Ashley Littley
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