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

Consultation on debt management launched

21/09/2009

The government has launched a consultation on debt management schemes.

It is hoping to help consumers solve their debt problems as quickly and fairly as possible.

Called `Debt Management Schemes - delivering effective and balanced solutions for debtors and creditors`, the paper asks how such initiatives can help people in debt and their creditors effectively.

Among the issues being explored in the consultation is whether or not there would be benefits resulting from more consistent operators` charges.

Justice Minister Bridget Prentice, who is the MP for Lewisham East, said: "Debt can affect all kinds of people - especially in the current global economic downturn - and it is important that we protect people from sliding deeper and deeper into debt."

She added that the government is seeking to help both debtors and creditors, ensuring that money owed is repaid without the "vicious cycle" of charges, interest, fees and confiscated assets.

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