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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`

Local institutions `better placed to offer debt advice`

27/09/2007

Local building societies have a wide range of advantages when dealing with debt problems compared to national banking institutions, an industry expert has claimed.

Consumers who are looking for debt advice would be better off going to a local institution as they "understand the local markets" better than a national or international bank, the Building Societies Association (BSA) said.

While confidence in the sector may have been shaken through the events of the recent weeks, local building societies are in a better place to deal with problems regarding debt and regional issues than banks which are based in foreign countries, Adrian Coles, the director-general of the BSA, said.

He added: "High levels of service, better levels of service than banks, understanding of local markets which they`re clearly good at, tailor-made products, knowing their customers - all those are advantages."

According to the BSA, there are 59 building societies in the UK with total assets of over £310 billion.

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