According to ifs, there were 27,644 individual insolvencies in England and Wales in the third quarter of 2006, something which includes both Individual Voluntary Arrangements (IVAs) and bankruptcy. “These figures are yet another aspect of the disturbing trend of increased…

However, CAB spokeswoman Moira Haynes cautioned that they are not a “magic” debt solution and that people need to ensure they take quality advice. “People need good, impartial, independent advice,” said Ms Haynes, urging that consumers take IVA advice. “They…

One company alone has seen a 245 per cent increase in IVA use in the past year as more and more people take it as an alternative to the more damaging effects of bankruptcy. Charles Howson, chief executive of Accuma…

Thanks to IVA expansion, Becky Wilks, spokeswoman for National Debtline, said that banks are sharing information as they realise the scale of lending. “One move that has happened recently is that creditors have now said that they will exchange more…

According to Debt Free Direct, while loans and credit approvals are falling, this is because people are struggling with existing repayments and have to take out an IVA. “We have long campaigned for government regulation that would ideally enshrine the…

Writing in his column in the Daily Telegraph, Andrew O’Hagan said that figures showed that the number of families with Individual Voluntary Arrangements (IVAs) had risen from 5,000 in 2002 to 40,000 this year. “This is the wider issue thrown…

It blames lenders for the rise in the amount of people taking out Individual Voluntary Arrangements (IVAs) because they cannot manage their debt . In its Personal Finance Industry Insight newsletter, the website states that IVAs and the industry are…

In the W3 Debt Solutions report, the amount of people in their 20s taking out an Individual Voluntary Arrangement (IVA) has soared by 90 per cent in half a year. “I am very concerned about the sharp rise in IVAs…