Home > News > IVAs

Consultation on debt management launched Govt aid for those struggling with mortgages `too late for some` Pensions `no problem` for IVAs UK reaping what it has sown in terms of personal debt, expert claims Struggling consumers `likely to default on TV subscriptions` Consumers `struggling to cope with mounting debt` Bankruptcy increases by 7% `More Brits applying for personal loans` 70% of Brits `without unsecured loans` Pre-paid cards `more popular as debt rises` IVAs `a real alternative` to bankruptcy Brits `trying to escape credit crunch` by moving abroad West Sussex consumers suffering debt IVA agreements increase Industry body welcomes IVA mailing probe OFT to target bogus IVA companies IVAs can be "helpful" for large debts IVAs - consumers warned about bogus deals Insolvency rates rising IVAs can be "better option" than bankruptcy

Brits `trying to escape credit crunch` by moving abroad

08/08/2008

Increasing numbers of people are deciding to leave the UK due to the credit crunch, currency specialist HiFX has said.

Last year was a record year for people moving away and the company has seen enquiries about emigration increase by 30 per cent this year.

The findings suggest people may be feeling the economic squeeze and are worried about debt problems or personal finance issues.

However, despite the rise in interest in moving, emigration has increased only ten per cent this year.

Director at HiFX Mark Bodega, said: "The problem that many people are being confronted with is a simple one - they cannot sell their UK property."

This lack of equity from house sales is causing people to delay their plans, he continued.

Figures from international removals firm Anglo Pacific were also cited, which showed record numbers of enquiries but actual relocation decreased.

Last month Abta suggested people are continuing to take holidays due to the stress of the credit crunch.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according