I believe that everyone has debt; the only difference is how much debt one has and how much control and discipline one takes to repay back their debt. It is no doubt a scary and dangerous figure that more and more people are opting for bankruptcy nowadays and sadly, it involve a lot of youngster. They look fabulously wealthy outside with branded and designer goods slapped on their body but deep inside them, they are in extreme trouble. If they do not take action now, it is going to be too late and their financial future could tarnish without them realizing. Read about IVA , an Individual Voluntary Arrangement set up to help people in heavy debt to repay their debt without loosing their home and other assets and assault by creditors. It is an effective alternative to bankruptcy. They had a detail analysis of the pros and cons of taking up an IVA. Do take the time to consider other options before diving into one as some consultants are more interested in earning your money than helping y