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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`

Record pay rises `ease debt worries`

28/01/2008

Pay rises given to workers in the private sector soared to their highest in 15 years during 2007, a new report has claimed.

The average 3.7 per cent pay rise potentially helped out people on debt consolidation schemes and means that a worker on £25,000 per year in December 2006 now earns £925 more, a study by Industrial Relations Services (IRS) found.

At least a quarter of workers got more than a 4.1 per cent pay rise during the last 12 months, while a fifth got less than a three per cent increase in wages.

Sheila Attwood, IRS pay and benefits editor, told Reuters: "Higher inflation has been the key to some long-term deals at the end of 2007, pushing our headline settlement measure to a record high."

According to Credit Action, the average adult in work owed £29,500 at the end of November in loans, credit card bills and mortgages.

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