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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`

Festive debts linger `for 39 percent of Brits`

16/01/2008

Over one-third of UK consumers feel that they will not have cleared their Christmas debts by the end of January, forcing many to consider professional debt advice, new research shows.

A total of 61 per cent of those polled think they will have their festive finances sorted by the end of the month, with debt problems for the remaining 39 per cent carrying on into February, a study by Sainsbury`s Bank found.

Worryingly for some consumers, three per cent believe they will need seven to 12 months to clear their debts, with one per cent needing more than a year and 12 per cent not having a clue when their debt problems will end.

Donald MacLeod, head of cards at Sainsbury`s, said: "Those Yuletime shoppers who anticipate being unable to clear their credit card bills by the end of this month should consider spreading the cost and transferring their balance to a new card that offers zero per cent APR on balance transfers so as to avoid incurring any unnecessary interest."

Research by the company over the festive period found that £1.5 million was spent every minute in the UK on Christmas Eve.

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