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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

More debt taken on than repaid in December

01/02/2010

According to figures from the Bank of England (BoE), in December, the monthly amount of debt taken on through credit cards, loans and overdrafts `outstripped` the amount of debt repaid for the first time since June 2009, the BBC reports.

The figures revealed that outstanding consumer credit (unsecured debt) rose by £52m in December.

Meanwhile, the number of mortgages approved for house purchase fell to 59,023 - slightly lower than November`s figure, but still above the average for the past six months.

As the BBC reports, `the trend during the downturn has been for consumers to pay off debts`, and for five months in a row, the amount of debt repaid has been more than the amount of debt taken on. However, as figures from the Bank show, this trend changed in December, mostly due to borrowing on credit cards - which increased by £195m.

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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