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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`

UK energy customers `overcharged £1.6bn`

10/07/2009

According to new research by consumer watchdog Consumer Focus, energy customers are being overcharged by a combined £1.66bn this year, which works out at around £74 per household. Consumer Focus claims this is because suppliers are not fully passing on declining wholesale costs to their customers.

The watchdog claims that if suppliers had fully passed on declining wholesale costs to customers, then gas prices would be at least £60 a year cheaper, and electricity bills at least £13 lower.

Phillip Cullum, Deputy Chief Executive of Consumer Focus, said: "Our new research for the first time shows the reality. The companies are pocketing £1.6 billion extra, while millions of households struggle to make ends meet."

A debt specialist for Debt Advisers Direct commented: "At a time like now, many households are facing the prospect of debt. The cost of living has gone up and some are finding it harder and harder to afford their essential expenditure every month. When every penny counts, people should be particularly cautious with their finances to ensure they avoid 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