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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`

Divorcees `could have assets claimed for ex-spouse`s debt`

10/05/2007

Millions of divorcees could face having their assets taken to repay debts owed by their former spouse, a landmark high court decision has stated.

Creditors now have permission to claim property and assets which are awarded during a divorce settlement if one partner goes bankrupt.

Predictions say that as many as one in five bankruptcy cases expected to be filed this year could be affected.

Gareth Schofield, a partner at law firm Clarke Willmott, told the Telegraph: "This is a complete reversal from the widely accepted position that divorce settlements made by the matrimonial courts after a fully contested hearing are beyond reach in bankruptcy cases and cannot be overturned by a bankruptcy court.

"This decision will have a profound effect on the way clients are advised on settlement in divorce where bankruptcy is a potential issue."

In related news, recent figures from the Insolvency Service revealed that 16,482 Britons went bankrupt in the first quarter of 2007.

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