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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

Record debt defaults predicted for the New Year

04/12/2009

Banks have been warned that their debt collection departments could face the `busiest New Year on record` as debt defaults are predicted to rise after Christmas, the Telegraph reports.

According to the credit-checking company Experian, January is `traditionally the worst time of year for debt defaults`. The company also said that because of the recent rise in unemployment and personal insolvencies, the first quarter of 2010 will be `the busiest period ever`.

Experian`s head of collections for UK and Ireland, Simon Walter, said: "Christmas is a catalyst for delinquency and bad debt, with credit card and overdraft debt traditionally peaking in the New Year.

"Economic indicators and feedback from our collections clients suggests that the first quarter of 2010 could be the busiest period ever seen."

A spokesperson for Debt Advisers Direct commented: "Christmas can be an expensive time of year for anyone, and the problems this can cause are often especially serious for people in debt.

"It is particularly important that people do their best to remain in control of their finances over the festive period. We would advise anyone struggling with their debts to contact a professional debt adviser."

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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