The Real Cost of Raising Children in 2012 Spells Personal Debt for Many UK Residents

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• Publié par: iva-co-uk
• Nombre de lectures: 14
• Langue: English

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The Real Cost of Raising Children in 2012 Spells Personal Debt for Many UK Residents

PR Newswire

LONDON, January 2, 2013

LONDON,January 2, 2013/PRNewswire/ --

Since the 2009 recession, it has been well reported that the cost of bringing

up children in the UK has continued to rise, despite the fall in disposable

incomes. The future looks bleak and recent figures published in LV's 'Cost of

a Child: From cradle to college' show child rearing costs have risen by a

further 3.3% since 2011. The cost of living will continue to tighten the purse

strings of over half of all UK families according to the Bank of England,

whose recent study has also found that the average household will lose £22

a month spelling bad news for approximately 11.5 million UK households

who are now 'very concerned' about theirdebts.

The result of this is that many families are finding that they are unable to plan

for their future, put money aside for emergencies, savings or pay for

insurance policies or pensions. Data collected by debt counselling website

iva.co.uk, suggests that many families are putting themselves intodebtto

cope with childcare, food and other living costs. Surveys found that over

64% of those in debt have children up to the age of 18 living with them, had

on average £43,000 of personal debt and over half reported that their debt

problems came about from living beyond their means.

Going into debt to pay for the everyday cost of living is far from ideal and is

also very difficult to change once debts are racked up, turning into a vicious

cycle whereby many end up taking out further credit in order to pay off older

debts. The problems also worsen over periods such as Christmas when

pressure to spend is even greater. Getting an impartial opinion as well as

free, expert advice and support from others who understand is crucial to

turning problems around and is the central focus at iva.co.uk explains

founder Andy Davie;

'When you are struggling with debt it is easy to feel alone and lose hope

which leads to a very negative vicious circle. Feeling alone and out of control

is scary but can be quickly alleviated by talking to others who have similar

experiences and can be both therapeutic and useful in terms of learning

about the different options available. The terrifying first step can be made a

little easier by the resources available on iva.co.uk. We know what it is like to

struggle with debt personally so have developed a site which can help people

by offering advice and guidance without commitment and lead them through

the process gently. We are committed to helping our members to make a

fresh start in their happy, healthy and debt free life and will go to great

measures to ensure that all of our members receive the highest quality

advice in the quickest time possible, wherever they are. '

IVA.co.uk was set up by Andy Davie,Credit Today's'Debt Councillor of the Year', who after struggling with his own debt problems, has gone onto to lead a debt free and fulfilling life helping others through their own debt problems.

Andy decided to set up IVA.co.uk after completing hisIVAin 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 visithttp://www.iva.co.uk.