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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`

Increased credit card use could contribute to debt levels

09/09/2009

British shops experienced a 5% increase in credit card and debit card transactions in 2008, compared with 2007, according to a new report, in news that could help to explain the rising levels of debt in Britain.

The annual World Payments Report (from CapGemini, Royal Bank of Scotland and the European Financial Management & Marketing Association) looks into the way financial transactions are being made across the globe.

In 2008, British consumers made 15bn transactions with credit and debit cards in the shops, making Britain the fourth-largest non-cash market in the world.

A spokesperson for Debt Advisers Direct said: "The rising use of credit cards has likely contributed to the rising debt levels we`ve seen in the UK over the past few years. Using credit cards doesn`t necessarily lead to debt problems, providing borrowers can afford to repay the money, but it`s an unfortunate fact that many people do get into trouble with credit card debts.

"Credit card debt can grow very quickly, so anyone who finds themselves struggling should seek debt advice from an expert as soon as possible."

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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