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Recession Affects White Collar Workers
The Citizens Advice Bureau (CAB) is reporting that they are being faced with an unprecedented rise in once affluent white-collar workers seeking their help.
The recession has pushed many of these workers into debt and/or unemployment. Figures releases this month show that over the past 12 months at CABs across the UK there has been a 153% rise in redundancy-related questions, a 49% increase in mortgage and loan enquiries and a 24% rise in debt enquiries.
Pauline Wilson, a money adviser for CAB since 1995 said: "Before I'd see people who were in and out of jobs, doing low-paid work, worried about smallish loans. Now these people are often professionals, out of work with large mortgages."
Tony Rice, of Bedfordshire-based speclalist mortgage and insurance brokers TMP Mortgage Zone, said: "It's vital that everyone who has a mortgage takes adequate steps to ensure that they are covered for every eventuality. Insurance is available against critical illness, income protection and mortgage payment protection, so that if the worse happens, you can still meet your most important bills."
TMP Mortgage Zone offers advice on a range of insurances from a panel of highly respected insurance companies including Standard Life, Legal & General and Scottish Provident, to protect you, your family and your home.
[ 21-03-2009 ]
