Is bankruptcy right for Mums in money woes?

23/02/2010

Three steps to a better future

Prepare

Any debt solution starts with the facts. Write down:

Debts on cards and other loans
What you earn every month
What you spend every month

Apply

Contact ClearStart using our online form or by calling
0800 988 9345.

Choose

Review our recommendations and then tell us how you'd like to proceed. We can start dealing with all of your creditors straight away.

Is bankruptcy right for Mums in money woes?

Financial pressures are forcing many UK Mothers back into work or to do more hours even if they don't want to, according to an industry expert.

Prima Baby claims that Mums try to achieve a healthy work/life balance by working part-time.

But for families struggling with debt problems, Mothers can't earn enough money in these roles and so are forced back to work full time.

Georgina Wintersgill from Prima says working part-time is "often not financially viable, particularly in a low-paid job, because the cost of childcare and perhaps travel just swallow up what you make part time."

If a cash shortfall is so great for families in debt, an IVA or bankruptcy could be a way out of the problem.

But bankruptcy is only a last resort and getting debt advice to solve the problem should be sought first. ADNFCR-3106-ID-19630616-ADNFCR