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Did You Know Thousands of People Have an IVA?
There are thousands of people in the UK who have an IVA (Individual Voluntary Arrangement) as they seek to take better control of their finances. Debt Free Direct has taken a look at the numbers from their database of customers to create a better impression of the IVA landscape in the UK.
The information they released gave an indication of the kinds of lifestyles, life stages and circumstances that people find themselves in when needing to take out an IVA.
Surprisingly Unheard Of
The accumulation of debt arises through a number of different means. Sometimes it can be maintaining a certain lifestyle, starting a family and building a home can have an impact, even our interests can lead to debt.
In the UK thousands of people are using an IVA to help them manage rising levels of debt. So it comes as a surprise that these agreements remain largely unheard of. There were also some other interesting themes to emerge such as gardening and angling being interests that were typically associated with someone having an IVA.
Check out this infographic…