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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`

Interest rate decision welcomed

10/03/2008

Last week`s decision by the Bank of England to hold interest rates at 5.25 per cent has been widely welcomed by industry experts.

Consumers who are currently undertaking a debt consolidation scheme may like to know that a number of financial institutions, including Abbey and Lloyds TSB, have welcomed the move.

Abbey stated that, while the move by the Bank`s monetary policy committee was "expected", rising inflation could hit people with debt problems over the coming months.

Lloyds TSB`s Trevor Williams said: "The fact is that the UK economy is still in relatively good health.

"Although there are some signs that the housing market is flattening and consumer confidence is falling, these factors alone won`t be enough to persuade policy makers to trim rates again."

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