e are falling into the trap of taking on more credit commitments than they can Bankruptcies are up 66% from this time last year and more and more people are entering into individual voluntary arrangements (IVA’s) with their creditors. This is partially driven by increasing consumer debt including loans and credit cards. It is becoming easier and easier to obtain credit and more and more people are falling into the trap of taking on more credit commitments than they can ntering into individual voluntary arrangements (IVA’s) with their creditors. This is partially driven by increasing consumer debt including loans and credit cards. It is becoming easier and easier to obtain credit and more and more people are falling into the trap of taking on more credit commitments than they can is is partially driven by increasing consumer debt including loans and credit cards. It is becoming easier and easier to obtain credit and more and more people are falling into the trap of taking on more credit commitments than they can ards. It is becoming easier and easier to obtain credit and more and more people are falling into the trap of taking on more credit commitments than they can e are falling into the trap of taking on more credit commitments than they can afford. As this happens some people miss payments on their commitments which can lead to defaults, county court judgements and mortgage arrears. It is not uncommon for people to enter into IVA’s to reduce their monthly outgoings.

All of this poses the question of whether or not these people can obtain mortgag