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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 defaults lower than expected Britons take three months to clear Christmas debts Budgets to be `squeezed` in second half of 2010 Irish Reduce debt Teenagers concerned about parents` debt Homeowners reduce mortgage debt Advice issued to help people avoid Christmas debt Mortgage lending falls 10% in November Cost of new mortgage debt drops Families facing debt this winter `Upsurge` in homeowners struggling to service mortgage debt Cost of debt - CFA wants `level playing field` Debt news: Britons `more inclined` to spend than save Pre-Budget Report `fails to ease debt fears`

Average household £7 a week richer but debt levels remain high

01/07/2009

During May, a typical household had £164 a week left for `discretionary spending` after essential expenses, The Telegraph reports.

The research, produced by cebr (centre for economics and business research) for Asda, suggests that essential spending, such as utility bills and mortgage payments, was £3 a week lower in May than a year earlier.

An economist at cebr, Charles Davis, commented: "Spending power has increased relative to a year earlier in both April and May. However, this is not necessarily translating into increased spending on the high street - as shown by the 0.6 per cent month-on-month fall in retail sales in May.

"This is due to increased levels of precautionary saving as consumer debt levels remain high, unemployment rises and households see an uncertain economic climate ahead."

A debt specialist for Debt Advisers Direct said: "We would advise anyone with `spare` disposable income to think very carefully about the best way of using it - for example, they may choose to overpay any debts they may have. At a time like this when interest rates are low, tackling their mortgage debt could be a particularly appealing option."

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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).

US: new law provides debt-free date 02/02/2010 - Thanks to a new law, credit card providers in the More debt taken on than repaid in December 01/02/2010 - According to figures from the Bank of England (BoE), in Savings rise as consumers pay down debt 29/01/2010 - According to a survey of 13,000 savers by ING Direct, Household debt `could trigger another downturn` 28/01/2010 - The high level of debt carried by the British public