Thursday 17th of February 2011
Seeking individual voluntary arrangement answers could be one course of action young people who have already gathered mounting debts may consider in an effort to ease their monetary woes.
Brendan Barber, general secretary of the Trades Union Congress, has claimed those in this age demographic were hit the hardest during the recession and are still finding times tough despite the country being in a state of supposed economic recovery.
The industry figure noted all government action so far has served to make matters worse for youngsters.
These include the trebling of the tuition fees, the scrapping of the education maintenance allowance and a lack of vital job support.
He said: "There is an emerging livelihood gap across the UK that threatens the living standards of everyone bar the super-rich."
His comments come after chief economist at Nationwide Robert Gardner claimed one in five of people recently polled in the UK believe the economic situation is unlikely to improve in the next six months.
By Neil Burton
