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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`

Petrol price falls help people in debt

27/05/2010

Supermarkets are engaged in a `petrol price war` - in some cases cutting prices more than once in a single week. It`s a move that will be welcomed by motorists everywhere, especially those struggling with debt or other financial problems.

Asda, for example, has cut prices twice in one week, as moneyhighstreet.com reported this morning. A litre of unleaded now costs 113.9p, while diesel costs 116.9p per litre.

The Express, meanwhile, tells us that Morrisons `fired the opening shots in another fuel price war yesterday by knocking 2p off a litre of petrol and diesel`, meaning that prices (at its 293 forecourts) have now dropped by 5p in one week.

Other supermarkets `are expected to follow`.

The moneyhighstreet.com article also refers to the latest Asda Income Tracker, which calculates that the average UK family`s weekly disposable income has fallen by £8 over the last year, while transport costs had risen by 11% in the 12 months leading up to April.

And the AA reports that petrol prices rose a massive 26.8% over that time.

A spokesperson for Debt Advisers Direct commented that: "These cuts will come as a relief to motorists, who saw prices reach a record high as recently as two weeks ago, when the average price topped 121p per litre.

"With RPI inflation at 5.3%, people everywhere are struggling with rapidly rising prices, pushing many into debt - and making it a lot harder for others to stay on top of the debt they`re already carrying.

"Depending on their lifestyle, people may be able to cut back on their spending in all kinds of ways - but when it comes to petrol, there`s very little most people can do to cut back on their usage. So any increase - or decrease - in petrol prices will have quite an effect on the vast majority of households."

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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