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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

Consumers `cutting back on credit card debt`

01/07/2009

Many UK consumers are cutting back on the amount of money they spend on credit cards as the downturn continues, according to new research.

Tescocompare.com has claimed that almost half the nation`s credit card users (14.6 million, or 44%) have cut their credit card spending by just under £100 per month, on average.

Of those cutting back, 37% did so to reduce debt, while 25% wanted to increase savings, and 18% said they wanted to be less reliant on credit.

A spokesperson for Debt Advisers Direct said: "Because credit cards can carry a higher interest rate than many other forms of credit, credit card debt can prove costly if it isn`t repaid on time.

"In difficult times, it`s particularly important that people keep credit card debt to a minimum unless they are certain they can afford to repay it quickly."

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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