Debt Advice Help and Support

Debt help services help with child costs? (31 Jan 2012)

The annual Cost a Child Report from LV=, reveals the cost of raising a child from birth to their 21st birthday now totals a record £218,024, in research that suggests many family's could need debt help services.

 

Debt help could lead you towards a solution like an IVA, which could be suitable for people who build up £12,000 in unsecured debt - which could come from things like personal loans and credit cards.

 

The IVA would help you pay off as much of the debt as you could afford without putting your home at risk.

 

The report shows the overall cost of raising a child has increased by 3.3 per cent in the last year with education and childcare remaining the biggest expenditures, costing parents a massive £71,780 and £62,099 respectively.

 

And since the first Cost a Child Report by LV= was run in 2003, the overall cost of raising a child has increased by a massive 55 per cent, for UK parents.