Call to ease burden of debt

An expert in insolvency is calling on the Government to make big personal debts easier to pay off.

Patrick Boyden, a partner at Pricewaterhouse-Coopers, wants to help people recover from debts up to £30,000 while still protecting creditors. His proposed Consumer Arrangement aims to simplify negotiations.

Debtors would be declared bankrupt if they failed to make a paymentor if other debts or assets were discovered.

Mr Boyden said existing Individual Voluntary Agreements were heavily regulated and could be expensive and debt consolidation could risk a debtor's home.