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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`

Almost 5 million take on debt to pay household bills

04/06/2010

Research from Moneysupermarket.com has found that nearly 5 million Britons are regularly going into debt on their credit cards to pay household bills, headlinemoney.co.uk reports.

The figures revealed that a further 2.5 million consumers withdraw cash using their credit cards, which could lead to combined charges of up to £90m a year.

A spokesperson for Debt Advisers Direct said: "We would advise anyone using their credit card to pay for expenses such as household bills to be very cautious.

"The fact that people are regularly taking on debt on their cards to cover the cost of their bills suggests that either they aren`t setting enough money aside at the start of the month, or they simply don`t have enough money coming in to pay their bills.

"We would advise anyone who feels they have to take on debt in this manner to seek debt advice as soon as they can. The sooner they take action, the sooner a solution can be found."

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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