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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 "less likely" through store card credit

24/08/2007

Consumers are "less likely" to find themselves in debt if they use store cards over credit cards, according to the Competition Commission.

Lower credit levels and balance limits on store cards are attracting more consumers to choose them over conventional credit cards, research by the independent body found.

Spokesman for the commission Rory Taylor commented that although consumers may borrow a "significant amount of money" on store cards, it had to be put into context with other forms of credit.

He said: "In terms of getting yourself into any real debt, you are probably less likely to do it with a store card than any other credit card. Credit card limits tend to go up to £5,000 or £10,000, while store cards tend to be lower."

Figures from Credit Action show total personal debt for the UK stood at £1,345 billion at the end of June 2007, with the average person owing £4,550 in credit card debt, store cards and unsecured personal loans.

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