One in 60 face unmanageable debt
A trade body for IVA (Individual Voluntary Arrangement) and debt resolution firms has said that as many as one in 60 people in England and Wales could be facing unmanageable debt.
David Mond, chairman of the Debt Resolution Forum, claimed that “there are an estimated 110,000 people currently in individual voluntary arrangements”, as well as “…probably more than 700,000 people in informal debt management plans”.
