The glamour model Jordan is no stranger to controversy and she is courting it once more by launching her own credit card. Financial experts are concerned that it may increase debt amongst the young. An IVA is good way to tackle debt problems.
Jordan, famous for plastic of another sort, is set to launch her own credit card which, industry experts fear, will increase the number of young girls trying to emulate her lifestyle fall into debt when the are incapable of keeping up with their debt repayments. Insolvency and bankruptcy threatens many financially naïve young people across the UK and many will find that an IVA (individual voluntary arrangement) is the ideal solution to their money woes.
IVA – Plastic Fantastic
Jordan may have had more plastic surgery than most but this doesn't make her an expert on plastic cards. A report in the Mirror states, "Katie [Jordan] sees this as the next step in developing the Jordan brand. She's lent her name to a string of other products and campaigns so why not move into the financial sector?" This is seen as an irresponsible move by many in the financial sector as many young people already have financial concerns and it is believed that vulnerable young woman may sign up for the card without comprehending the financial consequences. Debt is a pressing concern for an increasing number of young people as the credit crisis resonates across the country. More and more people who are threatened with insolvency or bankruptcy will opt for an IVA to extricate them from their financial burdens and return to a more secure financial footing.
IVA – Celebrity Card Trend
If Jordan is successful in releasing who own credit card, she will be the first English celebrity to do so. It is a trend that, inevitably, originated in the USA when Donald Trump released the superbly monikered ‘Trump Card'. However, financial industry experts are wary of the implications that celebrity endorsed credit cards could have on a nation that is already heavily in debt. Damon Gibbons, a financial expert, spoke to the Mirror and stated, "This is a totally irresponsible idea. Jordan is a very influential celebrity who has a lot of young fans who want to be just like her. Giving them a credit card endorsed by Jordan herself will encourage youngsters to spend cash on living a lifestyle they wouldn't normally be able to fund." Many young people who are heavily laden by debt will see an IVA as an ideal solution for their monetary problems.
Speak To Varden Nuttall About An IVA
Varden Nuttall has been established for over 15 years and is dedicated to helping people in financial difficulty find a debt management solution through an Individual Voluntary Arrangement (IVA). Employing 90 people, including trained and skilled IVA administrators, we are one of the largest IVA companies in the UK and handle over 3% of all IVA applications. To find out more about the company, or to make an appointment to talk about putting an IVA in place, call us today on 0870 977 8100 or fill in our online enquiry form.