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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

Debt news: Britons `more inclined` to spend than save

11/12/2009

According to a survey of Britain`s wealth by the Office for National Statistics (ONS), 44% of the public are `more inclined` to spend their money than save it, The Times reports.

Around 80% of households had `racked up` an average debt of £7,200 on credit cards, loans and other non-mortgage related sources of credit, while just 40% of men and 32% of women were saving by contributing to a private pension.

Of those who owned a credit or store card, 15% admitted they were unable to meet the minimum debt repayment, while over 50% of `active users` said they felt their debt repayments were a `burden`.

In addition, one in ten households had been unable to afford their debt repayments for at least two consecutive months, and as a result, have ended up in arrears.

The figures, which were released just a day after the Government outlined its plans to address Britain`s national debt, show that over a fifth of the population would rather `buy now, pay later`, with women `more likely to express the devil-may-care attitude` towards credit.

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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