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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`

Tunbridge Wells `becoming debt capital of Europe`

23/09/2009

Royal Tunbridge Wells in Kent is `becoming the debt capital of Europe` after a number of people from other European countries have moved to the area to take advantage of Britain`s `lenient` bankruptcy laws, The Telegraph claims.

Numerous factors, including easy access to Eurostar links and cheaper rents than London, have made Tunbridge Wells very appealing to Europeans with serious debt problems.

In Britain, the bankruptcy laws allow people who have lived in the country for a minimum of six months to have their debts written off in just one year - compared with up to nine years in Germany.

According to The Telegraph, `accountants said they were not surprised that Europeans had discovered a quirk in the legislation which allows them to wipe out debts incurred in Italy, Austria or Germany in a British court`.

One German man, Marcus Kray, has even started a company near Tunbridge Wells, helping struggling Europeans move to Britain and clear their debts. He said: "The majority of my clients are German or Austrian - they have realised it is so much easier in the UK to have their debts cancelled so they come here."

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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