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UK `must reduce consumer debt` 700k `on Debt Management Plans` Recession `could lead to financial problems for retirees` Charity sees increase in debt, mortgage and loan arrear enquiries Retirees` finances `may be damaged by rate cut` Consumers `aiming to reduce spending` People `increasingly turning to illegal loans` Children raised in credit crunch `may be better able to manage money` Many parents `pushed into debt by adult children` Young people `failing to protect themselves for debt repayments` Consumers in East Midlands `relying less on debt to fund lives` Plans set out to help people in debt PPI ban `could leave consumers without loan cover` Govt `must step in to stop debt addiction` Cash-strapped Brits `see fraud as more acceptable` People `should not rely on mortgage rescue plan` Consumers `to take out £3bn in debt consolidation loans by Easter` Some shoppers `reducing spending due to debt` People `sharing cost of living to avoid debt problems` Brits `getting to grips with debts in new year`

47% considering car sharing

25/09/2008

High fuel costs are forcing almost half of the population to consider car sharing as a means of cutting down on expenses, a new report suggests.

The report by the AA suggested that 47% of the population are considering car sharing, although only 11% actually do so more than once a week.

“Car sharing,” said Edmund King, president of the AA, “is something that we really believe in – not only is it a good way to reduce emissions and congestion on the road, but can also save on motoring costs.”

A spokesperson for Debt Advisers Direct said that car sharing is a good way of reducing outgoings, but it may not always be enough to keep people out of debt.

“There are a lot of financial pressures on consumers at the moment, with many people being pushed into debt,” she said. “If cutting back on things like car costs and non-essential spending is not enough, it’s time to seek expert debt advice.”

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Debt Advisers Direct offer a range of debt solutions, including debt management plans, debt consolidation and IVAs (Individual Voluntary Arrangements). To find out more, contact one of our expert debt advisers.

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