A Lib Dem spokesperson has recently commented that Gordon Brown must make reducing personal debt levels in the UK, one of his government’s top priorities.

Gordon Brown was officially announced as the UK’s new prime minister at the back end of June 2007, and was welcomed by an almost instant challenge from opposing members of parliament, with regards to tackling the national debt problem.

Statistically, consumer debt has risen by almost 75% over the last ten years, and has seen a dramatic rise in the number of people turning to IVA’s as a solution to their problems.

Government opposition have blamed Mr Brown for not acting quickly enough when acting as chancellor, and have suggested that resolving the situation must be his number one objective whilst In his new role.

Experts suggest that a number of UK households and families will not be able to cope if interest rates continue to rise, however there is already evidence that previous rises are affecting households, as demonstrated through a sharp increase in the number of bankruptcy and IVA cases.