Department for Business, Energy and Industrial Strategy written question – answered at on 9 May 2019.
Frank Field
Chair, Work and Pensions Committee, Chair, Work and Pensions Committee
To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will establish an inquiry into the use of Individual Voluntary Agreements as a means of exploiting low-income and vulnerable consumers.
Kelly Tolhurst
Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)
Individual voluntary arrangements, used appropriately, are a very useful tool for helping people to deal with problem debt and there are no current plans to review their use. However, Government has recently consulted on the implementation of a “breathing space” scheme, which aims to give people legal protection from creditor action while they seek debt advice from an independent, approved debt adviser about their options. This will help to ensure that an individual in problem debt can enter a debt solution most appropriate for their circumstances. The Government’s response to this consultation will be published in due course.
Yes2 people think so
No1 person thinks not
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