High levels of debt is at the top of the list of worries for many consumers these days, particularly after the damage caused by the recession and the credit crisis, and one debt charity has called for employers to offer more support and help to workers that are plagued by debt problems.
Many people these days have a high level of debt to deal with, and this is an issue that has got worse over the past couple of years with the recession and the global financial crisis taking their toll. Even though many of those that have debt worries are working the money simply isn’t sufficient in some cases to alleviate their debt problems.
In fact, for those that are working these debt worries can really take their toll, causing them to lose their focus whilst at work and resulting in both their work and the company for which they work suffering. One debt charity has now called on employers to provide support and information for workers that may be plagued by debt problems.
Figures from a variety of sources have shown that the level of enquiries relating to debt problems has increased over the past year, with many people struggling to manage their debts because of factors such as lower income due to a cut in working hours or because of pay freezes.
The Consumer Credit Counselling Service said that there were a number of things that employers could do to support employees, stating: ”The UK’s personal debt problem is likely to get far worse over the next year and employers are in an important position to help staff who have a debt problem.” The CCCS also said: ”Employers can help them by providing information on notice boards and in staff magazines.”
Source - Chrysalis Courses