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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

Avoiding another debt crisis - finance lessons at work

09/12/2009

People should be given training in financial matters while they`re at work, according to AXA, `to prevent another crisis in borrowing and personal debt`.

So says an article in trainingjournal.com, an online resource which `gives learning and development the focus it needs`.

As Paul McMahon (AXA`s Corporate Benefits Managing Director) warns, the focus has been too much on the supply-side causes of the recession (e.g. the fact that credit has been available) - and not enough has been said about the demand side (e.g. the fact that people have been looking for credit).

Mr McMahon feels that the right training could help people avoid financial mistakes in the future. "Undeniably some lending practices were indefensible. But there was consumer demand. The lack of understanding of financial implications is what we need to think about addressing."

A spokesperson for Debt Advisers Direct commented that: "Financial education - at any age - can make a major difference to an individual`s ability to manage their money effectively and steer clear of problem debt.

"For people already in debt, it`s important to remember that it`s not too late to find a way out. Whatever debt problems an individual is dealing with, the right debt advice from an expert can help them find a solution."

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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