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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`

Millions of Britons `take on debt for holidays`

14/08/2007

Some 8.3 million British holidaymakers get into debt while funding their summer holidays, according to new research.

A MoneyExpert.com study reveals that 18 per cent of those who plan to take a summer trip take on debt to cover expenses.

A total of 63 per cent say they will use credit cards for this purpose, while 14 per cent utilise overdrafts and nine per cent take out a personal loan.

Sean Gardner, chief executive of MoneyExpert.com, said: "Holidays are usually one of the biggest spending times of the year along with Christmas so with family budgets being squeezed millions of us are turning to borrowing.

"Anyone with debt problems needs to cut the amount they are paying each month and to draw up a plan to become debt-free."

Switching balances to competitive credit card deals and taking out a debt consolidation loan could help consumers to this end, he added.

It was recently claimed by a savings manager at AWD Chase De Vere that lifetime balance transfer deals could help with debt management.

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