Latest survey - Young women in critical debt

Our latest survey on Debt level from our online visitors reveals that a huge number of young women have found critical debt and have sought bankruptcy or IVA measures.

The debt levels in the UK are record breaking in the recent times and women are involved in almost 50% of all personal insolvency cases in the country. When this data on women insolvency is further split down on different age groups, the youngest age groups of 18-25 and 26-35 are among the largest debtors in the UK. These women are even outnumbering men in debt and bankruptcy matters.

We believe that most young women have poor money management skills and this make them to shop for loans even with high interest rates. Many would say that the tendency of taking high-interest loans among the UK women could be because of the recent rise in unemployment among the UK women.

However, in total the number of people going for IVA in 2011 was less than compared to the figures of 2010.

IVA was introduced in 1986 and now it’s becoming more preferable than bankruptcy. In 2010 and 2011, more people choose an IVA over bankruptcy arrangements. This shows that IVA will be going to take the center stage in UK when it comes to dealing with the debt problems.

We, at IVA123, do not sell any debt solution but offer free impartial information to help peoples understand their options. Feel free to consult this site and if you need further help we advise you to contact a licensed Insolvency Pratcioner, Debt Charity or registered Debt Solution Firm.

Post a comment