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`

Credit card holders `may face annual fee`

17/07/2009

Experts have suggested that credit card holders may be charged annual fees as providers attempt to recoup some of their lost revenues, according to The Telegraph.

The warning comes after internet bank Egg launched a new credit card with a £12 annual fee - in the wake of the new rules imposed by Government on the credit card industry last week - prompting suggestions that other providers may follow suit.

A spokesperson for Debt Advisers Direct said: "This can be viewed in two ways: one the one hand, it may increase the amount credit card borrowers have to pay. On the other hand, it may make people think more carefully about taking out a credit card - which could actually help to reduce levels of personal debt in the UK.

"Either way, people should be particularly careful about getting into debt in the current climate, unless they are totally confident that they can afford the repayments - and anyone who finds themselves struggling should speak with a professional debt adviser at the first sign of difficulty."

---

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