One in three companies froze pay in April

A new survey has claimed that over a third of British companies imposed wage freezes on staff last month, according to the Guardian.

April is the beginning of the financial year for most companies, and is traditionally the month in which workers` salaries are increased in line with inflation.

But with the economy in a recession, over a third of last month`s pay deals resulted in freezes, according to Incomes Data Services.

A spokesperson for debt management company Gregory Pennington said: "The large number of pay freezes should serve as a reminder for people to take extra care with their finances and to ensure that they are addressing any outstanding debts.

"It`s especially important in these difficult times that anyone who finds themselves struggling to repay their debts speaks to a professional debt adviser."

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.