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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`

OECD: household debt more than 120% of disposable income

28/05/2010

According to the OECD`s (Organisation for Economic Co-operation and Development`s) Factbook 2010 - `an annual digest of economic, social and environmental statistics` - household debt exceeded 120% of disposable income by the time the financial crisis hit in 2008, headlinemoney.co.uk reports.

This wasn`t just in Britain, though; household debt had passed this level in Canada, the US and Japan too.

The latest edition of the OECD`s Factbook is said to take a `special look at the causes and consequences of the crisis`.

A spokesperson for Debt Advisers Direct commented: "The OECD`s findings indicate just how serious things were as household debt increased in the run-up to the economic crisis.

"The UK may be out of recession now, but the problems certainly aren`t over, and many people are still struggling with their debts.

"We would advise anyone finding their debts difficult to manage to speak to a professional debt adviser without delay."

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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