It has been seen that bankruptcy and IVA's are getting increasingly popular in the pursuit of debt management solutions - Law firm Macbeth Currie claims that the social stigma in going bankrupt has all but been lost and more and more people are opting for these debet management services.

Duncan Philp, a Senior consultant at Macbeth Currie says, “while a number of small businesses go bankrupt on a weekly basis, mainly due to poor planning, it is now the turn of individuals to use bankruptcy or IVAs as a means of credit debt management.”

“With personal finance it’s a case of people just loading up credit cards because they’re so easy to obtain,” he states.

“It just seems to be a modern phenomenon that people are perfectly happy to go through.”

IVAs are available to individuals with more than £15,000 of debt, whether or not a bankruptcy order has already been obtained.

DeleteDebt offer free debt advice to all customers and offer best debt soultions that suit your needs, allowing you to decide what route you want to take, its might be and Individual Voluntary Agreement or another debt management solution that is best for you.