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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`

Low-income households` cost of living `rising faster than inflation`

10/07/2009

The Joseph Rowntree Foundation has claimed that the cost of living for low-income households is rising faster than the official rate of inflation, reports the BBC, putting them at higher risk of debt problems.

The Foundation said that living costs for a single-person household on a low-income budget were up by 5.3% this year, while costs for pensioners and couples with children had risen by 5%.

This had largely been caused by a 7-12% rise in the cost of fuel, food and public transport.

A spokesperson for Debt Advisers Direct said: "Official inflation figures are an average, and different people experience it differently. These figures suggest that low-income households may indeed be affected the most, as they spend a greater proportion of their incomes on necessities.

"For people on a low income, rising costs of living can greatly increase the risk of problems with debt. Anyone in that situation should not hesitate to contact a professional debt adviser to discuss their options."

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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