IVA's More Important than Ever as Bankruptcy Reaches Record High, say Blair Endersby

MANCHESTER, England, Feb. 18 /PRNewswire/ -- IVA Solution experts Blair Endersby are emphasizing the role debt management can play in the lives of people with money worries.

Recently released figures have revealed that last year more than 134,000 people were made bankrupt or entered into insolvency agreements. This equates to 1 in every 320 adults, a 25% increase from 2008.

A Blair Endersby spokesman, Nick Pearson, said: "As a nation, we're emerging from the recession, but personal debt is at a worryingly high level. The figures that have been released are staggering."

There is some indication that more people are seeking debt management solutions rather than resorting to bankruptcy. The number of people entering into IVA's -- a more flexible way of managing debt -- increased by 26% last year, whilst bankruptcies fell by 5.5%.

Nick Pearson continues, "All too often people deep in debt keep it to themselves, and the problem generally spirals further out of control. Turning to a company like Blair Endersby can really be the best, most pain-free way of solving debt problems".

About Blair Endersby

Blair Endersby was set up in 2005 to provide Individual Voluntary Arrangements (IVA) to clients whose debts are making them struggle significantly. IVAs form part of government legislation (Insolvency Act 1986) to provide an alternative to bankruptcy for people in severe difficulty with their unsecured debts.

For more information please visit http://www.blairendersby.co.uk

SOURCE Blair Endersby