Britain's Unemployment Rate Set to Peak at 2.8m

Manchester, United Kingdom (PressExposure) December 29, 2009 -- A stark report for 2010 has been revealed from The Chartered Institute of Personnel and Development (CIPD). They predict that unemployment will continue to rise into the summer of 2010 peaking at 2.8million and warned of 'tough times' ahead for the UK businesses and workplaces with a 'sting' in the tail of the recession.

The report estimated the number of people in work will fall by 250,000 between the third quarter of this year and the second three months of 2010.

The CIPD also added employers are likely to decide to raise productivity and reduce labour costs.

But this is a much lower prediction than an earlier forecast by the CIPD, where they predicted 3.2 million people out of work, with the report adding that the coming year will be better for jobs than 2009.

This spells more financial misery for the UK public with an already desperate unemployment rate, more and more people are starting to struggle with their financial commitments. People are looking for alternative ways of dealing with their financial problems and seeking out effective debt solutions, such as IVA's (Individual Voluntary Arrangements), Debt Management Plans, Trust Deeds and UCA's (Unenforceable Credit Agreements) to name a few.

These solutions can be effective if you are struggling to meet your monthly repayments. They can get you one lower monthly repayment reduce hassle from your creditors; also it avoids the bankruptcy route, which for some people is just too much to bear.

The Debt Write Off website; reported a high increase in visitor traffic to the site on the run up to Christmas. A spokes person for the site said; "More and more people are struggling to meet the minimum repayments on their debts and are looking for a way out of debt. Even with Christmas on the doorstep, it has not deterred people from trying to sort out their finances difficulties and get back on their feet for 2010".

About Simple Financial Solutions Limited offers help and advice on how to get debts written off which have been taken out before 2007. This is done by solicitors challenging credit agreements for enforceability in a court of law. It can be an effective way to get out of debt legally as if your credit agreements cannot be enforced, they cannot legally be collected by the lender and it means you do not have to repay a penny.

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Press Release Submitted On: December 29, 2009 at 7:55 am
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