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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 levels `restricting UK`s saving power`

22/02/2008

Debt problems in the UK are one factor restricting people`s ability to save, it has been claimed.

Birmingham Midshires suggested that bad debt levels and higher utility bills are the main reason why the nation is putting less money into savings accounts.

According to its Saving Britain report, account holders saved an average of £814 in January - just up on £813 the same time last year.

However, they proceeded to raid these funds for £961 on average - compared to £349 twelve months ago - leaving them in debt by £147.

"We would urge savers to keep an eye on how much they are dipping into their accounts and remain vigilant about their overall savings balance," said Jason Robinson, savings operations director at Birmingham Midshires.

Earlier this month, the institution revealed that Scotland has the highest level of savers in the UK.

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