MoneySolve Expects Increased IVA Uptake After Christmas

MANCHESTER, England, Nov. 9, 2010 /PRNewswire/ -- Debt advisors at MoneySolve expect the IVA uptake to increase following the Christmas period. Christmas is traditionally an expensive time of the year, with many consumers funding the extra expenses associated with the festive season using credit cards and other forms of borrowing.

The advisors at MoneySolve commented that;

"Christmas is a time of financial temptation. Credit providers make it all too easy for consumers to take out credit cards or even personal loans. Add that  to the number of stores who offer discount incentives for customers to take out store cards and it's easy to see why so many people overspend on credit at Christmas and suffer the consequences of this well into the new year.

MoneySolve's advisors believe that this type of spending on credit can lead to a troublesome financial hangover, adding;

"Long after the Christmas tree has been put away, those credit card bills will be coming through and where people have borrowed more than they can actually afford to pay back, we see people enquiring about IVAs or other potential debt solutions. Of course we all have to take responsibility for our own finances to a degree, but the credit providers really should be held accountable when someone is able to access more in credit than they will ever realistically be able to repay."

If you are concerned about debt problems, you can contact MoneySolve for free, no obligation confidential advice on 0800 634 1125 or visit www.moneysolvedebtmanagement.co.uk or www.iva.org.uk

SOURCE MoneySolve

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