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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: almost 1 million `will become technically insolvent`

28/05/2009

A new study has suggested that almost 1 million Britons will be technically insolvent by the end of 2009, according to The Times.

R3, the trade body for insolvency practitioners, said that more than 700,000 people have been declared technically insolvent by their banks, but do not show on any Government statistics.

As The Times states, R3`s study suggests `that the true number of people in severe financial difficulty is about 450% higher than government statistics indicate`.

Peter Sergeant, president of R3, said: "By the end of this year almost 1m people will be technically insolvent. The official insolvency statistics are only the tip of the iceberg."

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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