Thursday 30th of December 2010
For individuals already deep in the red, next year could see them posing more individual voluntary arrangement questions, as an expert has claimed 2011 will be a bleak time financially.
Spokesman for moneynet.co.uk Andrew Hager said it appears inflation is likely to be an ongoing problem in the 12 months ahead.
The industry figure observed: "It has been at the same sort of level for [a while] and it's sort of quite stubborn and there isn't any sign on the horizon of that changing."
He added few individuals will be treated to a pay rise next year, while the overtime enjoyed by many might also be cut back.
There is little sign of any positive financial news in the first six months of 2011 in particular, Mr Hager went on to note.
The UK Household Finance Index by Markit recently found the increasing cost of living and dipping incomes are causing more households to become downbeat about future prospects.
By Hayley Jones
- 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
- Parents' debt management problems 'due to recession'
