Home > News > Debt consolidation

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`

Festive shoppers `will have new year debt problems`

14/12/2007

Over half of festive shoppers will spend the maximum amount on their credit card in the run up Christmas, new research shows.

A total of 58 per cent of those polled said they would go into debt this Christmas as a result of overspending on presents and celebrations, a study by Armstrong Watson has found.

Furthermore, over half suggested that they would spend more this Christmas than they did last year, with debt consolidation services likely to be sought in the new year. A total of 81 per cent said they would go into at least minor debt problems this festive season.

David Squire, financial planning director, of Armstrong Watson, said: "While we don`t want to dampen the festive spirit and promote ourselves as having Scrooge-like qualities, it`s worrying how many people don`t appear to be sticking to a budget and will greet the new year with mounting debt."

Recent research from PayPal suggested that 71 per cent of consumers would spend the majority of their money on food and drink this Christmas.

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