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    Personal debt in the UK is growing at a phenomenal rate. This is shown by the fact that it broke through the ?1 trillion barrier in 2004 just seven years after breaking through the ?500 billion barrier. Indeed, since Blair came to office in 1997, UK consumer debt has doubled.

    According to Oliver Letwin when he was shadow chancellor, “As many as one in 20 households now use up more than a quarter of their income on consumer credit repayments.”

    This is not just worrying from an economic perspective. Debt is also having a serious effect on the nation’s emotion health and wellbei

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    n barrier in 2004 just seven years after breaking through the ?500 billion barrier. Indeed, since Blair came to office in 1997, UK consumer debt has doubled.

    According to Oliver Letwin when he was shadow chancellor, “As many as one in 20 households now use up more than a quarter of their income on consumer credit repayments.”

    This is not just worrying from an economic perspective. Debt is also having a serious effect on the nation’s emotion health and wellbe

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    in 1997, UK consumer debt has doubled.

    According to Oliver Letwin when he was shadow chancellor, “As many as one in 20 households now use up more than a quarter of their income on consumer credit repayments.”

    This is not just worrying from an economic perspective. Debt is also having a serious effect on the nation’s emotion health and wellbe

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    e in 20 households now use up more than a quarter of their income on consumer credit repayments.”

    This is not just worrying from an economic perspective. Debt is also having a serious effect on the nation’s emotion health and wellbe

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    t worrying from an economic perspective. Debt is also having a serious effect on the nation’s emotion health and wellbeing. The results from a recent survey show that over 63% of people who seek debt advice have suffered from health problems caused by debt related stress.

    It is possibly not surprising then that so many people are starting to set up IVAs as a way of dealing with their personal debt problems.

    IVAs were introduced by the government in order to offer people a good alternative to bankruptcy. With an IVA a debtor agrees to a legally binding arrangement with his credi

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