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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`

Debt in retirement

16/04/2009

Almost half of all Britons are risking financial problems when they retire, the Association of British Insurers (ABI) has claimed.

As thisismoney.co.uk reports, 30% are failing to save anything for their retirement, and a further 13% are saving something for their retirement, but not enough.

At the same time, the huge drop in interest rates and worries about job security have led 25% of people to repay their mortgage debt - and 28% their unsecured debt - more quickly.

"It seems many people are taking steps to tackle their existing debt, but many are not preparing for the future as thoroughly as they should - or at all," said a spokesperson for Debt Advisers Direct.

"Preparing for later life is particularly important, as retirement can bring a whole range of new financial challenges. Even if someone has enough to get by, the fact that they`re living on a fixed income - with little or no ability to earn more - means any unexpected expense can easily push them into debt."

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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