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An accountancy firm have revealed the results of a recent study and it looks as if IVAs (Individual Voluntary Arrangements) among women are very much on the rise in the UK. More and more women are being driven to seek debt solutions such as IVAs to deal with escalating levels of financial insolvency. The stats suggest that this is a new development and is likely to be linked to the current economic recession. The level of women in need of IVAs has risen from somewhere around 32% in 2002 to a gobsmacking 48% in 2011, accounting for almost half of all IVAs and debts in the UK.

Experts who specialise in debt solutions and IVAs have suggested that this is thanks to our consumer culture and exposure to rampant materialism in media, though this is a rather sexist assumption to make. Other explanations sound much more plausible, though much more worrying.

Recent rises in IVAs and debts among women could be explained by the fact that, thanks to the economic downturn, more women have been made redundant than men. Statistically, there are more women who work part-time than there are men, and thanks to job insecurity more and more part-time workers are losing out on work.

Another factor is parenting. IVAs are more common among single parents and, because nine out of ten single parents are women, the cuts and financial issues which are hitting single parents the hardest are forcing an awful lot of women to turn to IVAs and other insolvency management schemes.

Spiralling IVAs and debts are having an interesting effect on birth rates. Surveys suggest that one in four women have put off or decided not to have children because of financial insecurity. High numbers of IVAs amongst women also reduce the uptake in fertility treatment and the amount women are willing to spend on conceiving a baby. Red magazine's 'National Fertility Report' shows that women who, a year ago, would have spent £15,000 on IVF treatment, would now lay out just £12,000 to help them have a baby.

This is just another negative side to the current country-wide financial problems. It is sad that IVAs and debts will prevent people from starting families and prevent couples and women from having the children they want.

There can be light at the end of the tunnel though. Many groups offer help with IVAs and insolvency issues.

If you need advice tailored to your particular situation or want to know more about IVAs there are loads of great online services such as http://www.iva-service.co.uk who offer reams of information and assistance. They even have a dedicated line straight to professionally qualified debt advisors. Call 02920 346 536 to speak to an expert today. Do not let debt and IVAs stop you from achieving your goals and dreams.

By Andrew Liberty
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