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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`

75% put ‘key life plans’ on hold

19/12/2008

36 million people have – or are planning to – put major plans for 2009 on hold, according to research from CreditExpert.co.uk.

In the face of the downturn, it seems 75% of the adult population have decided to wait before they do anything significant, such as buying a car, buying/selling a house or having a baby.

The ‘top 5’ plans to be postponed, according to CreditExpert.co.uk, are:

1. Buying a car - 50%
2. Buying a property - 30%
3. Selling a property - 28%
4. Changing jobs - 27%
5. Moving (within the UK) - 17%

“There’s no doubt that uncertainty about future financial security for many people right now means putting plans on hold,” said Jim Hodgkins, Managing Director of CreditExpert.co.uk. “One certainty is that those who are actively managing their money and understand their credit commitments can better plan for their future.”

“Although it’s good to see people being realistic about their options in an economic climate such as this,” said a spokesperson for Debt Advisers Direct, “it is alarming that so many people feel so limited by today’s problems. Anyone who feels they’re being held back by their debts should seek debt advice 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 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