Sunday 12th of December 2010
Individuals who have battled against their debt problems throughout the year but now allow themselves to succumb to spending more than they can afford may start asking individual voluntary arrangement questions if they decide enough is enough.
According to the Stroud and News Journal, Sue Pearson, centre manager at the town's Christians Against Poverty charity, has issued a warning about the results a mismanagement of expenditure can have.
She stated that people risk entering a time of current financial difficulty much more severe if they allow themselves to give in to temptation.
"The new year is full of uncertainty - job losses, VAT will be going up, benefits are changing, energy bills are rising and we don't know what interest rates will do," Ms Pearson observed.
If people have already caught themselves considering a loosening of their purse strings then alarm bells should be sounding, as they risk exacerbating their debt problems.
Research published by insolvency firm R3 found there has been a 50 per cent increase over the last quarter in the number of people worried about the possibility of becoming unemployed next year.
By Chris King
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- Cost of living 'still up' despite inflation fall
