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Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive` School focuses on "curing Ireland`s debt disease"

A third of Britons claim to be `unaffected` by credit crunch

19/06/2008

Over a third (36 per cent) of British consumers believe the current economic downturn will not affect their lives, research by Zurich has revealed.

More than a fifth (21 per cent) of those questioned by the insurance provider think "credit crunch" is a media-created term and less than a third (29 per cent) of consumers have looked at their personal finances in light of it, a finding described as "worrying" by Zurich`s Tony Solomon.

The business development director of Zurich UK Life commented: "With the credit crunch bringing spiralling living costs, from fuel to food to interest rates, families are seeing their budgets stretched to the limit."

Obtaining advice and reviewing financial affairs is "crucial" according to Mr Solomon.

The survey, conducted by YouGov, found that over half of consumers (52 per cent) continue to think property is a good investment.

For the 18 to 24 age group, the highest financial priority was to own a car, followed by becoming debt-free with no credit cards or overdrafts.

Credit Action figures put the UK`s total personal debt at £1,436 billion at the end of April, an increase of 8.4 per cent in 12 months.

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 Rising household costs could pressure people in debt 10/08/2010 - The UK may be about to see a rise in