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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`

New agency `aims to avoid debt spiral`

27/04/2010

A new agency has been launched, the BBC reports, which aims to improve the financial education on offer to people in the UK - and to help them avoid getting into debt.

Before now, this was a role which was carried out by the Financial Services Authority (FSA), the regulator of the financial services industry, but now it`s passed over to the Consumer Financial Education Body (CFEB).

As the CFEB website says, the new body is `responsible for helping consumers understand financial matters and manage their finances better`, and has a vision of `better informed and more confident consumers who are able to take greater responsibility for their financial affairs and choose products and services that meet their needs`.

To do that, it provides `free, impartial information, education and guidance` - by working with partners, and through its Moneymadeclear website.

"Now more than ever, people need help with their finances so that they have the knowledge, confidence and support to take control of their money and choose products and services that meet their needs," said Tony Hobman, who`ll be Chief Executive of CFEB as of 17th May.

The body has 134 people on the staff, and is funded by a levy on authorised financial institutions.

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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