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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`

Rise in cost of taking on unsecured debt

08/03/2010

According to figures from the personal finance group Defaqto, the cost of taking on unsecured debt - specifically personal loans - has jumped by 42% over the past two years, The Independent reports.

The figures revealed that the APR (Annual Percentage Rate) on a £5,000 loan has increased from 9.8% to 13.9% during the past two years. This means the cost of repaying a £5,000 personal loan on a three-year term has increased by £352 to £1,143.

As reported in The Independent, the rise in interest rates on personal loans is believed to be a move from banks and building societies to reduce the amount of `bad debt` (debt which won`t be repaid) they are forced to write off - which recently reached a 16-year high.

Throughout 2009, lenders wrote off a total of £9.34bn in bad debts - up from the £6.85bn seen in 2008.

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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