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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`

Recession ends

26/01/2010

The country has finally come out of recession, official figures from the Office for National Statistics (ONS) have shown.

After six quarters - 18 months - in a row, the economy has finally stopped shrinking, making Britain the last major economy in the world to exit recession and start growing again.

According to the figures, the economy grew by 0.1% in the final quarter of 2009. Even so, the economy at the end of 2009 was still 3.2% smaller than it had been a year before - and a full 6% smaller than it was before the recession started.

Three months ago, analysts expected the ONS figures to show that the country had exited recession at the end of the third quarter of 2009, but these hopes were dashed when the ONS reported a contraction of 0.2%.

This time around, analysts were even more confident.

In the Guardian, Howard Archer, economist at IHS Global Insight, is reported as saying: "Similar hopes for an exit from recession had been held for the third quarter and were then dashed, but this time around growth expectations are even higher. Indeed, I would be astounded if the UK did not grow in the fourth quarter of 2009 and would have to seriously consider giving up economic analysis and forecasting."

However, the end of the recession does not signal the end of the country`s financial problems. The Telegraph also quoted Mr Archer: "Serious doubt remains about the strength and sustainability of the UK`s recovery given the still very challenging economic and financial environment it faces."

"After all," said a spokesperson for Debt Advisers Direct, "Government debt and public debt are both extremely high, the banking sector is still fragile, the base rate can`t stay at today`s low of 0.5% - and when the base rate does rise, this is bound to put a lot of pressure on many people`s finances."

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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