Lacking Finance Education to Blame for Rising Insolvency?

MANCHESTER, England, April 27, 2010 - Debt advice specialists at MoneySolve believe that the record level of
personal insolvencies that occurred in 2009 is, in part, down to a lack of
financial management and debt education.

More than 134,000 people became insolvent during 2009, by entering into
an IVA, Debt Relief Order or bankruptcy and many more continue to experience
severe financial difficulties. Experts at MoneySolve believe that by
increasing education at every level in the field of financial management and
debt could reduce this number, commenting that;

"People come to us every single day seeking IVA (www.iva.org.uk/)
advice or just to ask us exactly what their options are. These are people who
simply do not know how to resolve their financial problems. Last year saw
huge numbers of personal insolvencies and while the recession and the
resulting job losses played a part in this, we cannot underestimate the role
played by little or no finance education . Money management is a basic life
skill that we all need but that we're never formally educated on and this has
to change if we're to realistically tackle the personal debt problem."

The Government recently announced compulsory financial education in
schools for children aged 5 - 16, before making a disappointing u-turn on
that policy this month after failing to get the support of the opposition
party.

MoneySolve, Elizabeth Beesley, Astute House, Wilmslow Rd, Handforth, Cheshire SK9 3HP, +44(0)1625-544789