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More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Consumers `shouldn`t rely heavily on credit`

15/05/2008

Consumers across the UK have to be "very careful" that they do not find themselves overly reliant on credit, according to a financial charity.

Tightening of credit conditions as a result of the credit crunch may mean that people with large debt problems may not be able to borrow more money to help themselves out in the future, Credit Action warned.

People with large overdrafts and credit card bills should make sure that they are on top of all their debts and not continue to rely on credit from lenders, the charity`s director Chris Tapp said.

He added: "It may be a reasonable option in the short term, but people have to be very careful they don`t find themselves overly reliant on credit which is unsustainable in the long run and can lead to people getting in real difficulty."

According to Capital Economics, the share of household income spent on food, bills and other unavoidable costs has risen to 31 per cent from 25 per cent over the past six years.

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