It is estimated that around 600,000 people are using the services according to a recent survey.

The survey was conducted from 31st July to the 5th August of this year, and is the first time a figure has been presented.

It is estimated that this figure is around four times as many clients that are actively in an IVA (individual voluntary arrangement) or that have been declared bankrupt.

This number has increased due to the number of clients unable to obtain a loan to consolidate their finances, and with living costs increasing, people are unable to maintain their payments and cope with normal living costs.

A debt management plan (DMP) can help people who are struggling with their finances, and isn’t as severe as bankruptcy on a clients credit file, but ideally should be used as a short term solution.

For further information on debt management plans and IVAs or any debt related issues please contact AshleyPark at www.ashleypark.co.uk for professional, free advice.