If you are a parent and in financial trouble then you may not be spending as much time with your kids as you would like because of the need to bring home as much income as possible.

A quarter of you are worried about neglecting financial security, the survey by Scottish Widows found. You may find an individual voluntary arrangement (IVA) answers this concern as it could help clear unsecured debts of at least £15,000.

Over 30 per cent of British parents admit their job gets in the way of spending time with their children. Extra hours could be regularly put in if mounting debt means that more cash is needed to meet climbing interest repayments.

An IVA can freeze the interest on unsecured debt like credit cards and loans, while more controllable repayments could make household income stretch further to meet different financial commitments.

"Taking the time to plan finances now could relieve some of the monetary pressure, as well as giving parents some precious extra time with their families now and in later years," says Alison Morris, savings expert for Scottish Widows. Having your questions answered on IVAs could help you bolster your family’s financial security for the future.