London, UK (PRWEB UK) 30 January 2013
The new research, conducted just before the publish of the new Insolvency Statistics by YouGov on behalf of iva.co.uk, was commissioned to uncover the myths surrounding personal debt and unearth the real reasons that so many UK adults hold debt nowadays compared to previous generations. The impartial survey was conducted by YouGov. The following is a summary of the results which are a representation of all UK adults:
The main cause for the increase in personal debt compared to previous generations;
The reason you first got into debt;
The survey also revealed;
The perceived ‘normalization’ of debt in the midst of the recession may mean that now a few thousand pounds on a credit card doesn’t feel like a problem and could explain why so many people with personal debts are not planning to repay them. Unfortunately this approach only hinders those in debt as discussed by founder of iva.co.uk, Andy Davie;
‘It’s worrying that people still feel the need to overspend and that so many people have incurred debts throughout their life time, but far more worrying to me is the attitude of some who aren’t displaying responsible management of their debts by having no plans to repay them. One thing I’ve learnt the hard way is that the key to debt prevention and cure is control. To prevent debt you need to keep a close eye on your money them and make sure you’re budgeting, if you have debt you must stay in control and keep making payments, if things spiral and you find yourself not managing, the most important thing you can do is regain control which can be done by entering into a debt management plan or IVA or even by budgeting more carefully. I completed my own IVA some years ago and it was the best decision I’ve ever made in my life. If things are getting out of your control then seek help and advice, it’s out there, it’s free and it can change your life!’
‘It will be interesting to see the new Insolvency Statistics to see whether Christmas and other factors have impacted the figures, however, I don’t expect figures to have shortened ’
To view the full version of the results please click here.
IVA.co.uk was set up by Andy Davie, Credit Today’s ‘Debt Councilor of the Year’, who, after struggling with his own debt problems, has gone onto to become debt-free and help others through their own debt problems. Andy decided to set up IVA.co.uk after completing his IVA in 2006 and finding that there was nowhere for people in IVAs to go for help and advice. Since, the site has grown to be the biggest online IVA community with thousands of people visiting each day for invaluable help and guidance from experts as well as other forum members. Everyone on the team at iva.co.uk is extremely passionate about helping those in debt, many of them having personal experience of debt, making the iva.co.uk mission; to deliver the best information, support and advice about IVA’s and financial issues, a very personal one. The ethos of the business is to go above and beyond the call of duty for their members to ensure that they are given the highest quality care and advice and this is shown by the fantastic feedback that the site and individual team members have received over the years. To find out more please visit http://www.iva.co.uk.