“In 2006 over 120,000 people were declared bankrupt or entered an individual voluntary arrangement (IVA) in the UK – 50% more than the year before.” This revelation from Which? would certainly leave most of us asking ourselves the question – ‘are we next?’. Considering the current state of the economy, the element of good fortune cannot be overruled, while it is understood that the eventuality is just a matter of time. Everybody has debts, and how you control it will decide your financial stability in the days to come.
