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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`

Debt consolidators `should commit to paying off capital`

09/08/2007

People who are taking out a debt consolidation loan should give up using their credit cards if they want to make progress on reducing what they owe, it has been claimed.

Those who commit to clearing debt must remember that they have to pay off the capital, according to Adrian Kidd, spokesperson for Mint Financial Services.

He also cautioned people choosing debt consolidation to be aware of the balance transfer fees which they have to pay when moving money to a new zero per cent deal - which can add up to hundreds of pounds "if you`ve got significant balances".

"You also don`t do yourself any favours by sourcing lots of credit cards because you can be penalised for applying for a lot of credit in the last 12 to 24 months," he remarked.

"Sometimes you can actually be turned down for a mortgage based on that."

The total amount of consumer credit lent to individuals in June 2007 was £214 billion, according to Credit Action.

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