Home > News > Debt advice

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" Debt: lending to fall this year Debt consolidation - time to check Offset mortgages could give more protection against debt than ISAs Growth of debt slows down in March Fifth of Brits admit their debt worries them Mortgage approvals rise; unsecured debt falls

Savers advised not to raid nest eggs

10/07/2009

Savers are being urged not to use their savings or investments in order to fund their current lifestyle, moneyfacts.co.uk reports.

Recent research from LV= (Liverpool Victoria) found that 22% of people surveyed said they had been `raiding their savings and investments to cover day-to-day outgoings`, while only 4% of those questioned said they had taken out insurance to replace their income should they fall ill and be unable to work.

Chief Executive of LV= group, Mike Rogers, said: "Rather than doing away with valuable insurance or eating into savings, it is important for people to take stock of their financial situation."

A debt specialist for Debt Advisers Direct said: "In today`s economic climate, many people will be finding it difficult to cope with financial demands such as debt repayments and utility bills. Although using savings to cover these costs may seem practical, it may not be the best option.

"It`s important that people plan for their future, and savings are an excellent way for people to keep their money safe until they need it. By preparing for their financial future, people can protect themselves from debt in later years."

---

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).

Over 50s can`t afford to enjoy retirement because of debts 01/07/2010 - According to a study by Saga Equity Release, 17% of Budget: tackling the nation`s debt 22/06/2010 - Today, we can expect the details of the `toughest package Short-term debt: `no need for price control` 18/06/2010 - The Office of Fair Trading (OFT) has decided not to The cost of clearing debt 10/06/2010 - Figuring out the cost of clearing debt can be tricky,