Bank finance articles and tips

IVAs (Individual Voluntary Arrangements) are already becoming a last resort for many people in the UK. The steeply and constantly rising cost of living is taking its toll on the working, as well as middle and even upper-middle, classes. With redundancy, doom and financial gloom becoming a common story IVAs are being taken up by increasing numbers of people and households, who previously never considered IVAs an option.

The news that both N Power and E.ON are set to join British Gas and Scottish Power in the hiking of gas prices is another low monetary blow which could drive even more people towards starting IVAs.

There has been a 30% rise in wholesale gas costs since early 2011. This is a shocking figure which, combined with the frightening rise in the cost of basic, everyday essentials like food, electricity and petrol, could financially cripple people to the point that they require IVAs.

Do you discuss personal matters with your co-workers and reveal complicated details that could later not serve you well?

It's kind of hard sometimes not to. After all, these are the people with whom you spend at least eight hours a day, five days a week. You're practically living with them - you spend more time with your co-workers than you do with your own family.

There are several reasons for not sharing personal information. You may not want to burden your colleagues with keeping a secret, or not trust them with doing so. By the time you find out someone has shared your story with the wrong person, it's usually too late.