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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`

Avoiding debt at Christmas

09/12/2008

Consumers are set to tone down their Christmas spending in an attempt to stay out of debt.

As the Manchester Evening News reports, a recent survey shows that ‘38 per cent of us plan to spend less this Christmas than we did last year’.

Keen to avoid getting into debt – or into more debt – it seems consumers are planning to cut back on everything from food and presents to socialising and travel over the festive season.

“Many surveys have illustrated the impact of excessive spending at Christmas,” said a spokesperson for Debt Advisers Direct. “We’ve all heard stories of people still paying off the debts from last year’s Christmas in the run-up to this year’s.

“So it’s good to see people determined to spend less than they normally would. However people like to celebrate the festive season and the New Year, it’s important to remember the consequences of running into debt.”

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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