Thursday 18th of June 2009
Debt problems could be mounting for a growing number of people in the UK, as unemployment continues to rise.
The latest figures from the Office for National Statistics revealed that 2.26 million people were out of work in the three months up to April, representing 7.2 per cent of the population.
Those who are concerned about how they will meet repayments on unsecured loans if they were to lose their job may wish to seek IVA help in order to work out an affordable plan to repay their debts.
Such solutions could be particularly relevant to young people, as the data showed that unemployment among those aged 18 to 24 is at its highest level since 1994.
Commenting on the figures, work and pensions spokesman for the Liberal Democrats Steve Webb criticised the government for failing to tackle the problem.
"Labour’s pledge to end high unemployment is in tatters," he said.
- House price rise 'may not indicate recovery'
- Equity release 'needs to be increased'
- Need for IVA help could increase as expert predicts reduction in lending
- Government announces 'breathing space' for those needing IVA help
- Lack of subprime lending creating need for IVA help, expert suggests
- IVA answers to offer assistance to struggling self-employed?
