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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`

Serious debt problems `affect one in five`

02/08/2007

Almost one in five Britons (17 per cent) have debt problems that cause them financial difficulties, according to new research.

A study by the Association of Business Recovery Professionals revealed that, of those who ran into problems, 28 per cent had sold personal items to manage their debt and 19 per cent had used debt consolidation.

Yet, despite their struggles, more than 60 per cent said they had not sought debt advice or debt counselling for their problems.

Patricia Godfrey, president of the association, said: "We are very concerned that so few people seem to be taking professional advice when facing financial crisis.

"I would urge anyone with debt problems to seek help and to do so as soon as they become aware of the problems."

Those in the West Midlands and the south-east were shown to have the highest proportion of debt relative to their salaries.

Personal debt in the UK totalled £1.345 billion at the end of June, 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