A leading financial comparison website has told people to think carefully before entering into Individual Voluntary Arrangements.
Head of loans and debt at moneysupermarket.com, Tim Moss commented: “People should be warned that IVAs are not a magic solution to their financial woes.”
He added: “"There are many simple and practical steps people can take to get to grips with their financial situation before taking a drastic step such as entering into an IVA”