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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`

Festive debt hangovers `require belated resolutions`

24/01/2008

People still struggling with their Christmas debt should make a belated new year`s resolution to sort out their finances, an industry expert has stated.

A number of consumers are considering debt consolidation schemes in a bid to sort out their Christmas debt problems, according to Sainsbury`s Bank.

Reassessing every part of personal finance is important to avoid getting into debt in the future, with a number of very good deals for loans and credit cards currently on the market, Donald Macleod, head of cards at Sainsbury`s Bank, said.

Mr Macleod added: "Now is the time of year to sit down and look at your finances. You`ve got all your Christmas spend out of the way, so you know what you`ve spent - your credit card bill will be coming in now."

Research from the company found that three pre cent of consumers will not have cleared off their Christmas spending spree by August.

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