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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`

Banks ‘increasing overdraft charges’

07/11/2008

New research by Moneysupermarket.com for The Telegraph has shown that some lenders have increased their overdraft charges recently – a move that some claim is an attempt to recoup some of the cash lost during the credit crisis.

The research reveals that some of Britain’s biggest lenders are charging customers up to £63 for exceeding their overdraft limits.

Overdraft charges have been the subject of controversy recently, with the OFT (Office of Fair Trading) currently conducting an investigation into the fairness of such fees.

A spokesperson for Debt Advisers Direct said: “Overdraft charges can be a particular worry for people in debt, because they essentially place them in more debt.

“If the charges aren’t repaid quickly, they can begin to mount up and there is the risk that the debt can soon become unmanageable.

“For that reason, it’s very important for account holders to avoid going overdrawn wherever possible, and contact their banks as soon as possible to discuss the situation.

“For those who find themselves in more serious trouble with debt, it’s essential that they seek debt advice as soon as possible to avoid the situation getting any worse.”

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans 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