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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"

Lack of financial understanding `can lead to debt`

09/03/2007

Britons` lack of understanding about financial products could be leading them into debt, an expert has cautioned.

According to online credit card guide Credit Cards GB, many people take out personal loans and apply for credit cards without having knowledge of the conditions involved.

Some people do not understand the interest on a credit card, the company claims, which could lead to debt problems down the line.

However, it adds, customers are not entirely at fault, as lenders do not always highlight the conditions and hidden charges related to their products.

"Overall, Britons really do not know enough about credit cards and what they entail and that is why there is such a bad debt crisis", Credit Cards GB concludes.

Earlier this month, the Association of Independent Financial Advisers said that people looking to get out of debt were increasingly using the services of a financial adviser.

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