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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`

Brown: Banks must make loans available

03/11/2008

Gordon Brown and Alistair Darling have stated that they expect banks to make credit available to consumers and businesses.

The Times reports that: ‘Government directors on the boards of the three banks that the taxpayer has helped to recapitalise will use their influence to ensure that they make lending to British individuals and businesses their top priority’.

As a shareholder in the Royal Bank of Scotland, HBOS and Lloyds TSB, the Government is reminding them they made a commitment to make ‘ample’ mortgages and loans available to both individuals and companies.

As The Times puts it: ‘The calculation appears to be that if the three part-nationalised banks start lending properly again, rivals will follow suit or lose business’.

“Many people and businesses will undoubtedly be relieved to hear this,” said a spokesperson for Debt Advisers Direct. “So many of them depend on various kinds of credit, from mortgages to debt consolidation loans.

“Greater availability of credit could make a real difference to households’ day-to-day finances, but that’s not all – it could also help stabilise house prices and help businesses get through a recession.”

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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