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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`

Shoppers cutting back due to debt

19/01/2009

Several leading retailers have reported shrinking profit margins amidst growing evidence that British consumers are cutting back due to debt, according to The Guardian.

In particular, DSG – which trades as PC World, Currys and Dixons – and Home Retail Group, which owns Argos and Homebase, have reported disappointing sales figures – suggesting that consumers are avoiding making purchases on ‘big-ticket’ items.

The news will be taken by some as a further sign that the British economy may be in a recession and heading for possible deflation.

A spokesperson for Debt Advisers Direct commented: “Although retail sales over the Christmas period were not quite as bad as some analysts had predicted, it was to be expected that some retailers would report disappointing sales. More people are becoming cautious about making big purchases, which obviously affects retailers.

“Cutting back on spending is one way of managing debts, but we advise anyone who thinks their debts may be becoming unmanageable to seek expert debt advice.”

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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