- Thursday, 23 April 2009A debt and bankruptcy expert has suggested that the recession will continue to particularly impact small businesses and the people who work for them.
The Guardian reported that Alan Tomlinson, of Tomlinson's insolvency practitioners, suggested "more and more people" are likely to be put out of work as the economic crisis continues.
Citing figures from the Federation of Small Businesses, he noted that with as many as 120 small firms going bust every day, it could take years to replace the jobs that are lost.
Debt advice group Credit Action has suggested that one in 33 people currently in work may be unemployed by the end of the year - which could lead to an increased number of people entering into an
individual voluntary arrangement (IVA).
It is estimated that every day, 323 people in the UK declare bankruptcy or agree to an IVA and this could increase to one person taking such action every 3.3 minutes before the end of 2009.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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