Home > News > Debt advice

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`

Many Britons `walking high-wire of debt`

19/05/2009

Insurance provider Scottish Provident has warned that many Britons are walking a `high wire` of debt without the `safety net` of savings to fall back on, according to Compareandsave.com.

Scottish Provident recently published an update to its 2003 survey, which looked into consumer attitudes towards finance. It found that despite the huge changes in economic conditions since 2003, many people are still living the `high life` - something which can lead to debt problems.

Susan Barclay, spokesperson for Scottish Provident, said: "When Scottish Provident ran the High Wire Britain research in 2003, we were shocked at consumer attitudes to personal finance and protection, but [at the time] we had benefited from a sharply rising property market for several years and enjoyed record lows of unemployment.

"Sadly, that is [no longer] the case. We are literally living the `high` life - on a high wire juggling mortgage repayments, credit card debt and general living costs - with little or no safety net [against debt] should we take a fall."

---

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