Zero Hour Contracts Offer Little Debt Respite, says Trust Deed Scotland Monday 30 March 2015 PDF Print employers look to cut costs across the board it is those who are struggling financially that are hit the hardest, the report states The reaction comes following a report in the Daily Record that details the ever-increasing number of people in Scotland who find themselves being signed to zero hour contracts, with no guarantee of work and very little opportunity to look elsewhere. As employers look to cut costs across the board it is those who are struggling financially that are hit the hardest, the report states.This new wave of employment contracts mean that redundancy pay and pensions are no longer offered as prerequisite terms, and many workers now find it difficult to secure mortgages or pay off existing loans or credit payments. The report claims that although the official figure of people on zero hour contracts, released by the Office for National Statistics recently, is 60,000, the Scottish Trade Union Congress (STUC) believes it to be upward of 100,000. Grahame Smith, general secretary of the STUC, said: “Employees are completely unable to estimate how many hours will be ¬available in a given week, how much money they will receive and whether they can undertake a second job to ¬supplement their income. “The working tax credit for a single person can only be claimed if an ¬individual works 16 hours a week but whether an individual exceeds these hours can vary from week to week, often leading to delayed payments and increased uncertainty and pressure on household incomes.” A spokesperson from Trust Deed Scotland, one of the country’s most experienced debt advice experts, has released a statement following the report: “It is a deeply worrying time for the percentage of the population who find themselves in financial difficulty. “Zero hour contracts offer no security and therefore make it extremely difficult to formulate any sort of coherent debt recovery plan, as there are no guarantees when it comes to income. It’s absolutely vital that those in this predicament seek out professional help as a matter of urgency – without it, things have the potential to spiral out of control and make things seriously difficult later down the line.” Trust Deed Scotland® Ltd is a leading debt advisory service for Scottish residents. They are 100% owned and operated in Scotland, with a 98% trustpilot rating owing to their free, qualified debt advice. They are able to advise on the suitability of Trust Deeds and a number of alternatives, including The Debt Arrangement Scheme, Debt consolidation and Sequestration. This press release was distributed by ResponseSource Press Release Wire on behalf of Trust Deed Scotland in the following categories: Personal Finance, Business & Finance, Public Sector, Third Sector & Legal, for more information visit http://pressreleasewire.responsesource.com/about.