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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 `built in` to UK society

28/11/2007

Easy access to credit has led to consumers getting into debt becoming a normal occurrence in British society, a leading expert has claimed.

Whereas in the past people saved to go to university or buy a house, consumers now rely on credit for their expenditure, meaning more require debt consolidation services, financial education charity pfeg said.

As a result, banks and building societies offering easy credit are not doing enough to stop consumers` debt problems, Alastair Mathews, director of policy at pfeg, stated. However, the recent credit crunch may make it harder for consumers to obtain credit in the future.

Mr Mathews added: "We have almost officially built debt in to the system now.

"The price of housing in much of Britain means that people would never be expected to save enough to buy a house outright and therefore mortgage debt is now something that most people plan for and many people manage quite adequately."

According to figures from Credit Action, the total UK personal debt at the end of September stood at £1,380 billion.

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