IVA's could help low earner through financial crisis

12/11/2009

People who have low earnings in the UK could be helped through financial crisis with an IVA.

New research by the Resolution Foundation revealed that the recession is forcing 14.3 million of us into money difficulties as repaying debts takes up a large portion of available cash.

It's claimed that an IVA could help almost 1 in 4 of people in this group who are paying out around a quarter of their monthly income on debts.

Sue Regan, chief executive of the Resolution Foundation, said, "Low earners are being hit hard by the recession.

This report shows that low earners will continue to lose jobs, homes and get into financial trouble unless further support is available".

Leading debt solutions provider, EuroDebt, confirmed that an IVA could help someone in financial difficulty pay back what they owe in a manageable way.

And talking to a debt expert will help identify the right debt solution for an individual's circumstances.

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