A leading financial expert has said the amount of people applying for Individual Voluntary Arrangements or IVAs will continue to rise over the coming years.
Director of debt specialists Thomas Charles, James Fella said that the amount of people in the UK needing debt help will only increase leading to a higher number of people applying for IVAs. He commented “My view is that the amount of personal debt that people are getting into is continuing to grow and I don't yet feel that all the people who have potentially got themselves into trouble have come to light."
Debt Free Direct last month reported it issued twice as many IVAs between May and October then it did in the same time period in 2005.