Consumers have been warned about unsolicited mailings that mislead and encourage them to cancel existing IVAs and opt for a debt management solution such as bankruptcy instead.
The number of people going bankrupt or taking out an IVA has fallen by
13% in the last year but the ongoing credit crunch could reverse this
trend going forward, experts warn.
The number of people declaring themselves insolvent fell in the last
three months of 2007 but experts warn that bankruptcies and IVAs will rocket in 2008.
