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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`

‘Consumer champion’ calls for lower energy bills

20/10/2008

A new ‘independent champion for consumers’ is calling for energy providers to cut the cost of domestic energy now that oil prices are falling.

Pointing out the link between inflation levels and energy prices, Ed Mayo, Chief Executive of Consumer Focus, said “We have seen this week that the biggest single driver of inflation is rising energy prices. We want immediate action from energy companies to reduce their prices in line with falling oil prices. This will be good not just for consumers, but for the whole economy.

“Oil prices have been falling since July,” Mr Mayo continued, “yet consumers have seen unprecedented rises in their gas and electricity costs. Consumers must now be wondering why they are left waiting.”

“For people in debt,” said a spokesperson for Debt Advisers Direct, “many of whom are on prepayment meters and paying above-average rates, today’s utility bills can be a real challenge.

“We have yet to see how energy suppliers will respond to the various calls for lower bills – but we would remind people with debt problems that they should talk to a professional debt adviser as soon as possible.

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements).

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