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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`

Debt consolidation loans give "relief" to bad credit consumers

16/04/2008

Consumers with bad credit ratings can "breathe a sigh of relief" at the availability of debt consolidation loans, according to one industry expert.

Applying for a debt consolidation loan can make dealing with various debts much "easier" and more manageable - cutting down on the inevitable stresses attached to financial problems, said Jennifer Morva from Lancaster University

Many people worry about eligibility for such loans but, even if people are already on Individual Voluntary Arrangement schemes, loans are still available.

Ms Morva added: "If you repay these debt consolidations properly, they can help you in emboldening your credit score as well

According to research by Credit Action, the UK`s personal debt is increasing by £1 million every five minutes.

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