Released on: October 22, 2008, 6:59 am

Press Release Author: Shane Craig

Industry: Financial

Press Release Summary: PREDICTIONS OF around two million unemployed by Christmas in
the wake of a deteriorating economy have further underpinned the case for protecting
loan and mortgage payments, warns standalone provider Paymentcare.co.uk.

Press Release Body: As another 31,800 made their way to the dole office in
September, taking the total number of Britons claiming jobless benefits to 1.79
million and giving the highest level of unemployment in a decade, economic
indicators suggest that few sectors will escape unscathed from the downturn.

Government sources admit that thousands of public sector workers will lose their
jobs over the next two years with an estimated 9,891 jobs in the prison, probation
and court services being cut as the Ministry of Justice looks to save 900 million.

"Coupled with reported job cuts at the Ministry of Justice there are additional
fears that job losses in the financial sector will mount as Lloyds TSB takes over
HBOS, the biggest mortgage lender in the UK," said Paymentcare.co.uk'sShane Craig.

Those in work are struggling with a soaring cost of living, as inflation rose to a
16-year high of 5.2 per cent last month.


And the increased cost of food, energy and home loans could well see those who lose
their jobs descend into financial hardship.

"The CBI has forecast that unemployment will rise by 330,000 to 2.12 million by the
end of next year, and the British Chambers of Commerce said that the number of
people out of work could rise by 350,000 over the next 12 months-this is a warning
shot across the bows," said Craig.

"We have seen a significant rise in enquiries from workers looking for cover in the
event of losing their job, and the enquiries are coming in from all sectors.

"If now is not a good time to take out protection against job loss, then I don't
know what is."


Web Site: http://paymentcare.co.uk/

Contact Details: Paymentcare Ltd,
CBTC,
Euxton Lane,
Euxton,
Chorley,
PR7 6TE.