Debt problems through redundancy?
09/12/2010Almost four and a half million people say they fear being made redundant, according to the latest research into debt problems.
According to the quarterly personal debt tracker from insolvency firm R3, this figure has gone up 50 per cent over the last three months alone.
People aged between 25 and 34 years of age are most concerned, with one in six of this demographic saying they’re worried about losing their job.
And alarmingly, the amount of consumers who report to have fallen behind with their bills and debt repayments now stands at just below the four million mark - 60 per cent up on quarter three.
Kevin Still, Director of Atlantic Financial Management says: "Loss of income is a major concern for many people of all age ranges. Interestingly, Aviva has reported a significant increase in over 55s' fears about the rising cost of living, with 75% admitting it is their biggest worry over the next 6 months. Both debt reasons have the effect of reducing disposable income and creating debt problems when debt repayments are missed." 
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