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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"

Economy `may be bottoming out`

12/06/2009

According to Andrew Sentance, a member of the Bank of England`s Monetary Policy Committee, the economy may be `bottoming out`, The Telegraph reports.

In a recent speech, Mr Sentance said, "We should be able to look forward to a recovery beginning either later this year or early 2010.

"It is encouraging that in recent months we have seen some promising signs that the recession - here in the U.K. and globally - may now be bottoming out."

A spokesperson for Debt Advisers Direct commented: "When the recovery does begin, this isn`t just something that will affect the economy as a whole - it will clearly have a direct impact on many individuals` lives.

"People with high levels of personal debt may be particularly relieved to find their income rising, as this would make it easier to stay on top of their debt repayments and other financial commitments."

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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).

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