Recent numbers published by the Insolvency Service highlight over 30,000 UK residents either going into bankruptcy, entered into an Individual Voluntary Arrangement, Trust Deed or Debt Relief Plan in the first quarter of the year. This is a 15% plus increase on the same time last year and breaks all previous records with this negative trend set to continue.
With the UK now supposedly out of recession many people have still to get their finances into order. Unemployment continues to rise and as past records show, individual insolvencies rise for a period after a recession comes to a close.
With the new government in place there is plenty of talk of tax rises which will continue to have a knock on effect on personal finances and the resultant output of increased levels of UK consumers seeking help with overwhelming debts.
Seek free advice and action today. You can then take positive steps to get your finances back on track.
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