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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`

Borrowers with good credit records struggle with mortgage debt

01/09/2009

According to the ratings agency Moody`s, an increasing number of homeowners with previously clean credit records are falling at least three months behind with payments towards their mortgage debt, The Times reports.

The agency found that in the second quarter of the year, 1.8% of `prime home loans` were behind by at least three months, compared with just 0.9% in 2008.

Rising unemployment and restrictions on the availability of mortgages are expected to lead more homeowners into arrears throughout the rest of the year.

However, despite more people having difficulties making payments towards their mortgage debt, Moody`s recorded a fall in repossessions, suggesting that banks and building societies were showing `extended forbearance` to customers struggling with debt - and that lower interest rates were also helping.

A spokesperson for Debt Advisers Direct commented: "It is encouraging to see banks and building societies helping people experiencing financial difficulties.

"Even so, it`s important that anyone struggling to make payments to their mortgage - or any other debt for that matter - seeks professional debt advice as soon their problems become apparent."

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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