Employers Ideally Placed To Help Staff With Loan Debts
Despite the fact that the UK has officially left the recession behind and we are apparently on the road to recovery, there is still a rising problem with personal debt through personal loans and credit cards, even amongst those individuals who are in a stable job in full time employment.
As personal loan debts increase, a growing number of people are finding themselves in the situation where, although they are earning a good wage each week or month, their outgoings on loan and card repayments, along with their other monthly bills, exceeds the amount of money they have coming in.
These growing loan and card debt problems can cause high levels of stress for the individual concerned and it has been suggested that this can not only have an impact on the individual and their health, but also on their employer, who could see a lack of performance from the individual, or absenteeism through stress or illness.
One debt charity has now suggested that employers are in an ideal situation to offer help and advice to those individuals on their payroll who are struggling with personal loan and credit card debts.
The Consumer Credit Counselling Service (CCCS) has said that it could be beneficial for both employees and employers if a service was offered to employees to help them with their loan debt problems. This could be as simple as listening to an individual’s problems in order to ease their minds, or to provide free information and debt advice, either internally or through outside advisers, to help individuals sort out their loan and credit card issues.
A spokesman for the CCCS said “The UK’s personal debt problem is likely to get far worse over the next year and employers are in an important position to help staff who have a debt problem. Employers can help them by providing information on notice boards and in staff magazines.”
