Home > News > Debt consolidation

Consumers `increasingly experiencing debt problems` Over-50s `better at managing credit card debt` New banking rules `may restrict access to loans` 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`

Consumers `increasingly experiencing debt problems`

07/09/2009

The number of consumers in the UK suffering with debt problems is increasing, it has been claimed.

According to Citizens Advice, which turned 70 years old last week, record numbers of people are turning to it for help with problems linked with job loss and debt.

It revealed it is dealing with an average of 9,300 new debt problems in England and Wales each working day.

Citizens Advice also pointed out that that enquiries concerning debt problems rose by 27 per cent during the three months to the end of June 2009 compared with the same period last year.

Chief executive of the organisation David Harker said: "Our new figures show that what started out as an emergency service in wartime is now needed more than ever as the recession continues to take its toll on people`s lives."

Currently, there are 426 Citizens Advice Bureaux in operation across England and Wales, with a further 22 in Northern Ireland.

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