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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`

Falling costs `an advantage for many`

27/02/2009

Reuters has claimed that many people are doing well out of the Government`s efforts to revive the economy, despite `negative growth` and rising unemployment figures.

Based on a report by market research firm Mintel, Reuters says that competition among retailers is helping to bring down prices of consumer goods and services, and falling prices and lower interest rates are supporting consumption and borrowing.

Toby Clark, head of financial research at Mintel, said: "It cannot be ignored that 21 percent [of people] are `comfortable and confident` and do not feel that their finances have really been badly affected by the worsening economy.

"For most, the economic downturn has been fairly manageable. Some will even be feeling better off, with more money to spend as inflation falls and interest rates reach a new low."

A spokesperson for Debt Advisers Direct commented: "While the underlying effects of the economic downturn are largely negative, there will always be some people who benefit. First-time buyers and people on tracker mortgages, for example, may find that their pound is stretching a lot further than it used to.

"However, economic conditions could become more difficult this year, and we`d advise anyone feeling better off to take advantage of that, addressing any debts and getting their finances in order so they are in the best possible position for the future."

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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