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16 Dec 2019

Go Direct Personal Finance News  2009

Redundancy woes force many to seek legal advice

The need for people to protect themselves with life insurance products such as income protection cover has been highlighted by research suggesting that redundancy-related matters are forcing many to seek legal advice.

Insurance industry insider LV has revealed that calls to its legal helpline increased by a fifth in the first quarter of 2009 compared to the same period in 2008, with one in four seeking help on employment-related matters.

According to the organisation, up to one million people have had to look for advice on employment issues such as redundancy over the last year - more than half the 1.92 million people that are currently unemployed.

John O'Roarke, the managing director of LV home insurance said: "An increasing number of people are looking for legal help because of employment problems caused directly by the recession.

"The issues are far ranging, covering redundancies, a reduction in hours and pay, or changes in employment contracts," he stated, saying the cost of a solicitor could be covered by insurance as well.

Charity Citizens Advice recently appealed for more volunteers due to demand for its services.

 

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Think carefully before securing other debts against your home, your home may be repossessed if you do not keep up repayments on your mortgage.

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Redundancy woes force many to seek legal advice