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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`

Most UK consumers `use credit wisely`

20/03/2007

The majority of Britons use credit in a responsible way, a spokesperson from a financial information provider said today.

James Jones, consumer affairs manager at Experian, said that "a small minority of people actually struggle" with debt, while most people use it "really wisely".

Those that do have bad debt should examine their credit report before approaching lenders, he added, to help rectify any potential issues.

He commented: "It really makes sense to take a look at your report, especially if you`ve had financial problems in the past, because there may be things you can do to improve the way the information looks."

Particularly, he stated that it is important to ensure that a credit report correctly lists any debts that have been cleared, a point that will be taken into account by lenders.

In other debt management news, it was recently revealed by investment specialists Brewin Dolphin that more than 25 per cent of Britons plan to use inherited money to get out of debt.

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