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PPI Claims: Unemployment is leading to debts

PPI claims could be used to help prevent the escalation of money difficulties that more people are experiencing due to current levels of unemployment.

Chief executive of the Money Advice Trust (MAT) Joanna Elson said that in the three months prior to August, 114,000 people became newly unemployed and they were finding the prospects of paying bills frightening.

Increasing levels of unemployment will undoubtedly bring greater financial hardship to homes across the UK, she added.

According to the MAT, the problem goes further with nearly one million people aged between 16 and 24 now out of work and 185,000 people who are without a job finding it difficult to stay out of debt problems.

The Organisation for Economic Co-operation and Development recently stated that a change to employer tax regulations could help stimulate more employment opportunities.

Amir Hussain

Amir specialises in personal loans, consumer debt and debt management. ADNFCR-2776-ID-800757100-ADNFCR

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