IVA & Debt Consolidation Advice

UK debtors have been warned to clear their financial arrears immediately.

Debt help experts the Debt Counsellors warned that if Britain's present benign economic climate deteriorates millions of people could find themselves facing unmanageable levels of debt.

In any case financial worries are affecting the majority of those going to the Debt Counsellors for advice, while over 90 per cent of requests for information spring from misuse of credit cards.

"The worrying thing is that at the moment the background of all this personal debt is relative economic stability with high employment and low interest rates," said John Porter, a senior member of the Debt Counsellors, on March 26th 2006.

"However, a change for the worse in either or both of those factors could really precipitate a crisis."

Problem debt overtook unsecured debt in the final quarter of last year, endangering more of the record £1.3 trillion debt owed by UK citizens.

Consumers may wish to consider taking out a debt consolidation loan to help them manage their finances and deal with their debt more effectively.