1.4 million people take sick days because of money worries

03/12/2009

1.4 million of us have taken time off work in the past 12 months because of money worries.

That's according to research by AXA and comes as figures from the latest Credit Action Report, reveal there were 386 personal insolvencies in England and Wales per day throughout the third quarter of 2009 which includes IVAs, Bankruptcies and Debt Relief Orders.

Pricewaterhouse (PwC) has also commented that there will be between 100,000 and 150,000 new Debt Management Plan'>Debt Management Plans [DMPs] in 2009, though EuroDebt director Kevin Still believes that this figure is understated, as there has historically been at least a two to one ratio between personal insolvency and DMPs, which would make the annual figure over 250,000

Managed debt solutions are suitable for people with some disposable income, but who are unable to meet their contractual payments on unsecured debts and require assistance in managing multiple creditors.

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