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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`

Small business seek cap on credit cards

06/01/2009

Credit card interest rates should be capped to help small business survive the recession, the Federation of Small Businesses (FSB) has stated.

With over 215,000 members, the lobby group has pointed out that over 25% of entrepreneurs use their personal credit cards for their business, and that a cap on the interest rates charged would help them cope with a difficult financial period.

“With base rates at 2pc and falling, the Chancellor and the Governor of the Bank of England must look into capping interest rates charged on credit cards,” said John Wright, FSB national chairman. “A cap on interest rates will at a stroke not only reduce business costs but give consumers a real boost and cut the cost of borrowing.”

“It’s important to remember the impact of credit card debt on businesses,” said a spokesperson for Debt Advisers Direct. “As the FSB has stressed, many small businesses depend on credit cards and so are affected by the cost of ‘consumer’ credit.”

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