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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`

Practical advice `could help reduce debt`

13/06/2007

People who are struggling with debt could reduce what they owe by following a few simple steps, according to financial advice website This is Money.

Regarding mortgages, which the site claims is the biggest debt for most households, people should be aware that the end of a cheaper two-year fixed-rate deal means that their monthly payments could soon go up.

Those in that situation are encouraged to seek a new rate as soon as possible to avoid paying up to £200 a month extra each month.

Credit card customers may want to look for a zero per cent balance transfer deal which involves paying no interest for a certain length of time, the website says.

Alternatively, it suggests that a credit card which offers zero per cent on purchases for a set period could help ease some pressure temporarily while paying back debt.

In addition, store cards should be avoided at all costs, it adds, as they carry high interest rates.

In related news, Britons were recently cautioned by This is Money about valuation fees attached to some mortgages.

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