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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

ISA rate cuts could raise debt risk

09/06/2009

Several banks and building societies have withdrawn their most generous ISA (Individual Savings Account) rates from the market, The Telegraph reports.

With the base rate held at 0.5% for the third consecutive month, many savings accounts currently offer very little in the way of interest.

ISAs, however, have still offered relatively high interest rates in recent months, but it seems many of the best rates are now being withdrawn.

In particular, this could affect people who rely on savings interest to supplement their income, who may find that their returns are significantly lower than in recent years.

A spokesperson for Debt Advisers Direct said: "Savings can be important regardless of the interest rate, but in the current climate it may be a good idea to consider whether any `spare` money could be better used - for overpaying debts, for example.

"However, so long as the saver is sure they can comfortably meet all their commitments, saving is still a good idea. Savings offer protection against debt, and it`s worth putting money aside even when interest rates are low."

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Debt Advisers Direct offer free debt advice and a range of debt solutions, including debt management plans, debt consolidation loans and IVAs (Individual Voluntary Arrangements).

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