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BIS have published a new report entitled "Credit, debt and financial difficulty in Britain, 2009/10. A report using data from the YouGov DebtTrack survey." (URN 11/963). The report uses data from the YouGov DebtTrack survey, a series of online surveys carried out between November 2009 and October 2010, to explore credit use and the extent of consumer indebtedness in Britain. The report notes that: "Overall, the analysis suggests a decrease in the proportion of households using unsecured credit since 2008/9, but an increase in the level of debt, both in absolute terms and as a proportion of household income. Evidence indicates that the incidence of financial difficulty may have declined during 2009/10; although the average proportion of households in structural arrears on payments remained unchanged compared with 2008/9, there has been a decrease in this indicator during 2009/10, as well as more subjective measures of financial stress."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...