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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`

New measures to keep people out of debt

10/07/2009

As part of an overhaul of consumer rights, credit card companies will be told to stop encouraging customers to borrow more, The Times reports.

Measures will be brought in which will stop credit card companies from raising interest rates on existing debts, sending out `unsolicited` (not requested) credit card cheques, or raising credit limits without asking the individual first. They`ll also have to put repayments towards the most expensive debt - instead of the least expensive as the majority now do.

Credit card companies, which have raised their interest rates to an average of 17.9%, have been criticised for the way some of their policies may lead people further into debt.

The Government and creditors alike have been urged to give borrowers struggling with repayments 30 days of breathing space to seek debt advice.

A spokesperson for Debt Advisers Direct said: "We would advise anyone struggling with their debts to contact a professional debt adviser as soon as possible. Depending on their circumstances, there may be a number of debt solutions that could help them clear their debts."

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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