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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`

Rise in bankruptcies as downturn continues

11/05/2009

The latest figures from the Insolvency Service have revealed another rise in the number of bankruptcies in the UK.

In the first quarter of 2009, there were 19,062 bankruptcies in England and Wales - a rise of 0.5% on the previous quarter, and 23.4% higher than in the same period last year.

Meanwhile, 10,713 people in England and Wales entered into an IVA (Individual Voluntary Arrangement) in the first three months of 2009. This was a 3.6% rise on the last quarter of 2008, and an 11.8% rise on the first quarter of 2008.

A spokesperson for Debt Advisers Direct commented: "These figures show that increasing numbers of people are struggling with their debts as the recession continues, and this highlights the importance of getting debt advice as soon as possible."

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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