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|Increase In The Number Of Self Employed Seeking Help For Personal Debt Issues|
|Thursday, 09 March 2017|
“Any increase in national insurance for the self employed could prove very harmful to the personal finances of tens of thousands of people across the UK.
“In such a challenging economic environment, individuals working for themselves to make a living are often at the sharp end of any cutbacks in consumer or business spending. The number of self employed people currently undertaking an IVA (Individual Voluntary Arrangement) to tackle personal debt issues is on the rise, increasing from 5.76 per cent of all applicants to 7.88 per cent in the last 12 months.
“It’s a real concern that the changes announced today will take even more money away from these individuals, with the potential to tip the balance and force people into borrowing more and increasing personal debt in order to make ends meet.”
Pearse Flynn, CEO of Creditfix
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