Español (ESP)IVA applicants' unsecured debt rises 7% to £54,000 each
Press Release 07 August 2009
- Consumer debt crisis continues to hurt middle aged, middle England
TDX Group, the leading provider of analytics-based debt management products and services, reports a 7% rise in the amount of unsecured debt accumulated by IVA applicants in Q2 2009 compared to the same period last year. Its IVA Index, which analyses IVA applications in England and Wales, shows the average unsecured debt has increased to £54,586 compared to £50,734 in Q2 2008.
In working for most of the major banks in the UK, TDX Group reviews over 80% of all IVAs.
The portion of homeowners applying for an IVA has risen by 12% in the past year to half all applications. There has been a continued shift towards older applicants: 56% are between 35 to 55 years old, 5% higher than a year ago, and 12% are aged over 55. Nearly two thirds (65%) of applicants earn over £20,000, with 7% earning over £40,000.
TDX Group's IVA Index shows that the top IVA hotspot in England and Wales is central Manchester, a position it also occupied this time last year. Telford and Barrow-In-Furness were in second and third places respectively in Q2 2009.
