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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`

Lib Dems condemn "staggering" debt figures

08/05/2007

The Liberal Democrats spoke out today about the most recent UK insolvency figures, saying that they indicate how deeply Britons have fallen into debt.

Shadow chancellor Vince Cable said that the "staggering quarterly record" of more than 30,000 insolvencies between January and March of this year "demonstrates the severity of Britain`s personal debt crisis".

These figures are likely to worsen with any further interest rate rises, he added, calling for steps to be taken to lessen the consequences for families.

"The Liberal Democrats have warned the chancellor for years about the seriousness of the personal debt problem and the need for a concerted plan of action involving better financial advice and education, debt data pooling and action on irresponsible lending," he said.

Mr Cable also commented on the eight per cent increase in mortgage possession claims issued in the first quarter, saying that irresponsible and aggressive lenders are contributing to the problem.

Recent research by CreditExpert stated that one in eight Britons ignore their credit card bills until they reach at least £15,000.

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