Home > News > Credit card debt

Credit cards: data to be shared on people at risk of debt problems Disposable incomes `falling` Credit cards `being used to pay off debts` `Not surprising` loans are becoming more expensive Consumers stretching personal finances in DIY stores Credit card debt `to last for over 30 years` Newly-weds `risking debt problems` Save to prevent home disasters Credit crunch not putting off holidaymakers Holidaymakers "complacent" about cards RMIF: Businesses should protect against credit card fraud Bankruptcy warning for holiday Brits Prepaying may end credit card debt Credit cards paid off after age 47 Sainsbury`s Bank: Credit card rewards worthwhile - if you redeem them Credit card rates `are on the up` Over 50s among "hardest hit" by credit crunch `Wiser` use of credit cards could save thousands "Increased pressure" for those in credit card debt Debit cards most popular for plastic spending

Save to prevent home disasters

29/08/2008

Those worried about debt problems may want to put money aside in case of home disasters.

Research from Halifax has said ten per cent of people who undertake DIY projects at home fund it with a credit card – and five per cent use a personal loan – suggesting expensive repairs may lead to debt.

A further 80 per cent dipped into or spent all of their savings on home improvements, indicating the average homeowner does not have too much cash to spend on renovation work.

However, the figures may also point to a new trend where people are saving up to improve their homes – potentially increasing the value that may work out financially in the long run.

Tony Wilcox, head of savings at the bank, said "the buy now pay later culture" may be being phased out.

"Using savings for such improvements means savers are really seeing the benefits of putting money aside," he said.

This week, Iammoving.co.uk said the debate around stamp duty was putting people off moving.

---

Debt experts http://www.DebtAdvisersDirect.co.uk/ provide debt consolidation loans, debt management and IVAs.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according