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Government warns about rising credit card debt Debt - the 12-month view Amount of `bad debt` written off reaches 16-year high Deeper into debt: middle-class poverty Debt taken on by individuals increased in January Debt Relief Order (DRO) rules may be changed Overdrafts: five million Britons `permanently` in debt Mortgage lending drops to decade low The cost of debt falls Two thirds hope to have cleared mortgage debt by 50 40% of people approaching retirement `saddled with debt` Repossession `may be best` for homeowners struggling with debt Bankruptcies in Scotland - the worst may be yet to come Good news for people with energy debts US: new law provides debt-free date More debt taken on than repaid in December Savings rise as consumers pay down debt Household debt `could trigger another downturn` More families could fall into debt with energy companies Recession ends

Debt Advisers Direct comment on BoE Financial Stability Report

12/05/2008

Commenting on the Bank of England’s Financial Stability Report, Melanie Taylor of Debt Advisers Direct said: “The experts seem divided on whether or not we’re past the worst of the credit crunch, and the BoE’s Report reads as a warning not to talk ourselves into an avoidable recession.”

“Despite the complex language, it’s a simple message to lenders: you were too eager to lend money, but now you’re being too cautious, and neither extreme is healthy, as a healthy economy depends on consumers and businesses having access to a reasonable level of credit. Far from denying there are still problems ahead, the BoE is simply stating that too much pessimism will discourage the risk-taking and confidence that lead to recovery.”

“In figures, the BoE thinks that future losses from sub-prime investments will be about half as much as the market currently believes. And its offer to exchange mortgage debts for government bonds shows it’s confident about this assessment – the BoE is ‘putting its money where its mouth is’.”

Government warns about rising credit card debt 05/03/2010 - The latest figures from the Bank of England (BoE) have Debt - the 12-month view 04/03/2010 - In January, UK citizens - between them - borrowed £500 Amount of `bad debt` written off reaches 16-year high 03/03/2010 - The latest figures from the Bank of England (BoE) suggest Deeper into debt: middle-class poverty 02/03/2010 - The recession has also affected a lot of people with