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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`

Stay `on top of bills` to avoid debt

27/03/2008

It is not in anyone`s "interest" to let bills pile up to amount serious debts, a major bank and mortgage lender has claimed.

People with financial difficulties should concentrate on paying important bills first and to contact their bank or building society before their debts get out of hand, according to Halifax.

If not, consumers may need to enter professional debt consolidation schemes in order to help them cope with their debts and financial worries.

According to Halifax spokesman Gareth Mackie, the lack of savings available to most people is seriously hurting their chances of getting out of debt problems.

Mr Mackie added: "The main pressures on savers are rising costs, like day-to-day living costs, which put pressure on people`s ability to save.

"Consumer borrowing is an aspect of today`s economy and as the cost of borrowing rises that may well begin to have an impact."

A recent survey by Sainsbury`s Bank found that 43 per cent of those under 24 and 41 per cent of those over 65 said they were unable to save anything.

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