Title:
Firstname:
Surname:
Help Phone:
Email:
Help Total Unsecured Debt (£)
Help No. of Creditors
Help Monthly Disposable Income
How did you hear about us?
Apply for a Debt Management Plan
Bookmark this page

Debt management could be needed following bleak economic forecast

Debt management could be needed following bleak economic forecast

- Wednesday, 3 February 2010

People may need to engage in debt management plans, following more gloomy forecasts for UK households despite the end of the recession.

The National Institute of Economic and Social Research (NIESR) has warned of a squeeze on disposable income, rising unemployment and a fall in house prices.

The think tank predicts that disposable income growth would be depressed to 1.3 per cent in 2010, and less than one percent in 2011, reports the Telegraph. This is compared to growth of almost four per cent in 2009.

Unemployment is expected to rise again, with NIESR forecasting the jobless rate to hit 2.9 million next year, rising from 7.8 per cent to nine per cent of the labour force.

The organisation told the Telegraph that it was likely that unemployment "has just paused and will revert back to an upward trend this year".

Households will also be hit by rising inflation, with latest data from the Office for National Statistics (ONS) revealing that the Consumer Price Index (CPI) measure of inflation increased to 2.9 per cent in December, up from 1.9 per cent the previous month.

It is the largest ever increase in the annual rate between two months.ADNFCR-2300-ID-19594020-ADNFCR
Latest Debt Management Plan NewsDebt Management Plan News ArchiveContact us to discuss Debt Management PlansEmail this article to a friendSubscribe to our RSS Feed

Recent Debt Management Plan News

Giving up smoking could aid debt management

Wed, 10 Mar 2010
Smokers who choose to give up the habit could also take significant steps towards becoming debt-free, it has been revealed...

Pet owners may need debt help to meet rising vet costs

Wed, 10 Mar 2010
Animal lovers may find themselves needing debt advice following new research that reveals the annual UK vet bill has doubled in the last three years...

Pay down credit card debt with savings

Tue, 09 Mar 2010
People could manage their credit card debt by way of using some of their savings, it has been claimed...

Debt advice may be needed by prospective homeowners

Mon, 08 Mar 2010
Debt management may become more pertinent for prospective homeowners, after new figures indicate that homeownership is likely to keep falling...