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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`

Debt crisis `got worse under Labour`

09/07/2007

The UK`s debt problems, including those of credit card debt, bankruptcy and high mortgage payments, got worse under the Labour government, it has been claimed.

Writing in the Daily Telegraph, business commentator Jeff Randall says that over the past six years, debt became "a financial fashion item" which consumers expected and sometimes even welcomed.

He cites figures which stated that almost 250,000 people were served with county court judgments for not paying debts in the first quarter of 2007, a fact which indicates that "the outlook is darkening" for consumers.

"Over the past five or six years, cautious voices have warned eager borrowers that they were taking on far too much debt," he writes.

"Just because they could afford their monthly repayments (for now), it did not mean that making out on credit cards, overdrafts and mortgages was a smart move."

Personal debt in the UK increases by £1 million every four minutes, according to Credit Action.

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