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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`

Npower to cut electricity prices

18/03/2009

Energy supplier Npower has become the final `big six` energy company to announce cuts to some of its prices.

The company has announced that it will cut electricity prices by 8% at the end of March.

The announcement comes after continued pressure from the Government and consumer groups for energy companies to cut their prices following reductions in the wholesale costs of gas and electricity.

However, despite the wholesale price of gas falling in recent months, Npower has said it is not cutting gas prices to consumers. It said that the fact that a lot of its customers had been protected from the full effect of last year`s wholesale price rises justified this.

A spokesperson for Debt Advisers Direct commented: "None of the price cuts from major energy companies have equalled the price rises seen in 2008 - but nonetheless, billpayers will feel some benefit from reduced bills.

"However, the price cuts may not be enough to help people already stretched to their limits by today`s cost of living. Anyone in that situation should get debt advice as soon as it becomes clear there`s a problem."

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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