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Loan charges: Public sector workers face biggest debt threat

Public sector workers have been told they are facing the greatest likelihood of coming up against debt problems over the coming months.

Yvonne Goodwin, founder of Yvonne Goodwin Wealth Management, explained that cuts are still coming for public organisations and many people are seeing their income frozen.

Some might find that they are forced to turn to unsecured borrowing in order to maintain their lifestyle and keep a roof over their head, which can result in loan charges being paid.

Commenting on public sector workers, Ms Goodwin stated: "In real times their income has gone down because inflation is so high. So that is one reason why people could be getting into debt."

She went on to note that while she is yet to see evidence of a spike in the number of people struggling with debt, Britons still need to stay on top of their finances and turn to the right credit options when required to do so.

Amir Hussain
Amir specialises in personal loans, consumer debt and debt management.ADNFCR-2776-ID-801466070-ADNFCR

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