IVAs could become popular among men

Debt management plans or individual voluntary arrangements (IVAs) may become increasingly popular among British males, after figures from the Consumer Credit Counselling Service (CCCS) suggested that men are more likely to go bankrupt than women.

According to the statistics, out of the people the organisation recommended IVAs to last year, 55.4 per cent were guys.

In addition, 51.4 per cent of those encouraged to file for bankruptcy were men too.

This could be down to the fact that single males owe on average around £19,830, compared to £16,937 for single women.

Commenting on the findings, CCCS spokeswoman Frances Walker said: "This may be the one equality which women may not want to aspire to. Whatever sex you are, I would urge anyone worried about their debt to seek help as soon as possible."

The CCCS is a registered charity that aims to help people in financial difficulty by providing free, impartial and realistic advice.

Social Bookmarking:

• July (70)
• June (69)
• May (68)
• April (66)
• March (75)
• Search