 |
| LATEST LATEST LEGAL NEWS ARCHIVE |
LATEST NEWS & EVENTS Unemployment raises personal insolvency spectre  More young people could need the help of an insolvency lawyer as unemployment among 18 to 24-year-olds hits new highs. Youth unemployment has reached more than one million, prompting concerns from debt charities over a potential rise in the personal insolvency rate. New figures released by Consumer Credit Counselling Service (CCCS) show that more than a third (35 per cent) of people aged between 18 and 24 who contacted the charity for help in the first six months of 2011 cited unemployment as the main cause of their debt problem. Delroy Corinaldi, CCCS director of external affairs, said: "With youth unemployment rising, an increasing number of under-25s are struggling to make ends meet. I am concerned that many young people who are out of work will fall into debt in the coming months." Meanwhile, research from the Money Advice Trust indicates that around 72,000 (7.2 per cent) of the one million young people who are currently unemployed will be facing severe debt problems. Joanna Elson OBE, chief executive of the charity, said: "Unemployment is often the trigger for serious debt problems." Posted by Georgina Price 
Related Articles: 8/5/2012 - More companies fail as personal insolvencies fall 23/4/2012 - Landlords and insurers unite behind insolvency law reform 19/4/2012 - Enterprise Act 'does not need radical overhaul' 13/4/2012 - Retail insolvency rate up 15% as rent payments bite 28/3/2012 - Business insolvencies on the rise More Insolvency & Restructuring News |
|||
| © 2012 Lamport Bassitt | DEFAULT ZOOM | DISABILITY INFORMATION | LEGAL INFORMATION |