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Thousands of families are facing increased financial hardship this autumn as figures announced this week revealed that UK unemployment grew by 81,000 during May and June.

The rise is the highest increase in UK unemployment for 16 years, leaving around 1.72m people, or 5.5% of the UK workforce unemployed and the number of job seekers allowance claimants rising by 32,000 to 904,900.

The increase has been blamed heavily on the current economic situation, particularly the slowdown in the UK housing market.

Consumer inflation rose to an unexpected high of 4.7% during August, with experts warning struggling families to expect inflation to rise as high as 5% before we see a drop.
The figure for CPI inflation, which does not factor in mortgage payments, remains well above the government’s target of 2% and has been blamed on surging food and energy prices.
Rises in the price of fuel have also been highlighted as a reason behind the increase although slight drops in the costs of clothing and communications have prevented the rate from rising further.

Problems with payments are a very common scenario for thousands of UK residents; it can lead to many serious debt problems if not addressed correctly.

Problems with payments can arise in many different forms, if you are an owner of a small business; a dip in profits or a poor cash flow can lead missed payments. This can also be the case if you have recently lost your flow of income and your monthly payments are unchanged.

Loans are one of the more common forms of credit available and are a popular means of paying for many high-value goods, such as a new car or home improvements.

For many people, loans are a useful form of credit which can enable them to purchase high-value products or make improvements which can improve the value of their property.

For other people, loans can be a means of consolidating multiple debts into one, simple monthly payment, making it easier to plan your finances and keep control of your debt situation.

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