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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`

Credit cards `can help debt management`

12/11/2007

It is "essential" to choose the right credit card as choosing the correct one will help with debt management in the long run, a financial specialist has claimed.

Store credit cards are "generally an expensive way" in which customers pay for goods and could make debt problems worse due to high interest charges, a spokesperson for Which? stated.

However, consumers should shop around for the correct credit card as there are a number of deals to be had at the moment, Martyn Saville recommended. He also urged credit card companies to highlight potential charges better.

Mr Saville added: "Credit card companies charge interest and allocate payments in different ways. It is essential to choose a credit card that suits your needs and it is often useful to have different cards for different purposes."

According to Credit Action, the average UK consumer owes £4,554 in credit card debt and overdrafts.

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