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Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter`

Changes to homeowners support scheme welcomed by AMI

06/01/2009

The Association of Mortgage Intermediaries (AMI) has spoken out in support of the government`s aid for homeowners facing a difficult time this year.

Recently, the government revealed it is to cut the amount of time a claimant has to wait until they qualify for the mortgage support scheme.

It also announced that it is to increase the size of home loan covered under the scheme to £200,000.

AMI director Robert Sinclair said: "Government action to support homeowners in financial difficulties ... is to be welcomed. This will provide support to a small but important group of people who are vulnerable following job losses, in the current economic climate."

He added that people should take action as soon as they think they may have problems in meeting their mortgage repayments.

When announcing the initial terms of the mortgage support scheme last month, the Treasury said it is aimed primarily at households where no one is in work.

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