October 26, 2011 05:10 ET

IVAs Outnumber Bankruptcies in Q2

MANCHESTER, UNITED KINGDOM--(Marketwire - Oct. 26, 2011) - Figures released by the Insolvency Service show that, of the 30,513 individual insolvencies in England and Wales during Q2 2011, more than 39% of them took the form of an IVA and IVAs outnumbered bankruptcy in quarter 2. Debt experts at Moneysolve consider this positive news, commenting that:

"This is such a good indication that consumers are more aware of all the options available to them if they become insolvent. Bankruptcy is not the only option for insolvent individuals for many years and it seems that awareness of the IVA and debt relief order is on the increase."

Moneysolve, who offers a range of debt solutions including IVAs and debt management plans, believes that an awareness of all the options is critical, adding:

"Every case is different. People's circumstances and the degree of their financial problems differs widely and in order to really resolve debt problems, the solution simply has to be tailored to the individual."

If you are concerned about financial problems and would like to speak to someone in confidence, you can contact Moneysolve at or by telephone on 0800 040 7064.

Contact Information

  • Moneysolve
    Elizabeth Beesley
    0800 040 7064