Sunday 2nd of January 2011
An increasing number of people who are already finding times tough may find themselves asking individual voluntary arrangement questions next year, as an expert has warned the coming 12 months will be difficult.
Brendan Barber, general secretary of the Trades Union Congress, claimed 2011 will be a horrible year that is dogged by unemployment and benefit cuts.
The industry figure noted: "Benefit cuts will kick in and thousands of some of the poorest and most vulnerable people will see real cuts in their living standards."
He explained reductions in services will have a big impact on people's lives, adding the coalition government's policies are continuing to be unfair - with those who did the least to cause the global economic crash being made to pay the highest consequences.
His comments come after the Daily Mail reported 140,000 individuals will be declared insolvent by the end of 2011, with the number set to continue increasing until 2012.
By Mark Waterman
- Debt consolidation loans falling, figures show
- Britons 'changing attitudes' towards debt management
- Homeowners 'more concerned with debt management'
- Low interest rate 'contributing to debt management efforts'
- Debt management growing in importance, survey finds
- Individuals 'tempted to spend what they haven't got'
