Members of the armed forces are at risk of financial problems when they the leave, in part because they struggle to find new employment, according to advice provider PayPlan.
The average debt held by former military personal entering an Individual Voluntary Arrangement stands at £51,435, internal figures from the company showed, compared to an overall average of £43,234.
Jane Clack, a money advisor at PayPlan, said: Leavers often spend their entire working lives within the military and require time and assistance to adjust once that protection has been removed.
“The difficulties and struggles of post-military life can sometimes be forgotten.
Once out of barracks they have to pay rent, council tax and utility bills that they previously …
Read the full article at: http://www.express.co.uk/finance/personalfinance/820839/armed-forces-day-soldiers-debt-money-help-finances-news