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May, 2009 news
Personal debt `overtakes earnings`
New research into levels of debt amongst British consumers has suggested that the average person now owes more money than they earn each year.
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Two `most debt-ridden towns` named
Price comparison website Confused.com has named Chester-le-Street in Durham and Camberley in Surrey as `the most indebted towns in Britain`, according to The Times.
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Recovery delayed by high household debt
Britain`s economic recovery is being held back by high levels of household debt, according to the International Monetary Fund (IMF).
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Consider food costs `to avoid debt`
A new study has suggested that people who are struggling financially could help themselves stay out of debt by reducing their food costs, according to Money.co.uk.
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38 million `plan to change financial habits`
A new survey from uSwitch estimates that 78% of consumers (38 million people) will change their financial behaviour as a result of the recession.
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`Many consumers` planning to pay mortgages off early
A considerable number of homeowners in the UK are planning to pay off their mortgages early, it has been claimed.... >>
Many pensioners `struggling with credit card debt`
New research from Key Retirement Solutions has suggested that as many as one in five pensioners has outstanding credit card debts, according to The Mirror.
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Women `better prepared for debt problems`
The latest Halifax Savings Report has claimed that women save more in proportion to their earnings than their male counterparts, potentially offering them greater protection against debt problems.
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One in three companies froze pay in April
A new survey has claimed that over a third of British companies imposed wage freezes on staff last month, according to the Guardian.
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Cost of servicing mortgage debt `lowest since 2004`
The average cost of servicing mortgage debt is at the lowest point since 2004, the Council of Mortgage Lenders (CML) has revealed.
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ISA savers `could be earning just 0.1%`
More than one million ISA (Individual Savings Account) holders could be earning just 0.1% interest on their balances, reports The Financial Times.
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Debt problems amongst middle class `have doubled`
The number of people in traditionally affluent areas who are suffering with debt problems has more than doubled in the last six months.
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Debt game teaches debt management skills
An online game that aims to teach students about the importance of debt management has been created as part of the InDebtEd financial education campaign.
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Car sales fall again
The latest figures from the Society of Motor Manufacturers and Traders (SMMT) have shown that there were 24% fewer car registrations in April than in the same month last year.
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Business debt: insolvencies rising
More and more businesses are being declared insolvent, as problems such as high debts and lower demand for their goods and services push them beyond the `point of no return`.
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Tenant debts `highest since 1980s`
The National Landlords Association has said that UK tenants have the highest levels of rent arrears since the 1980s, according to the BBC.
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Food price inflation falls
Monthly food price inflation fell in April for the first time since December last year, according to the latest figures from the British Retail Consortium (BRC).
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Britons `looking to home improvements to beat slump`
New research from Unbiased.co.uk has suggested that a quarter of British people are looking to make `substantial` home improvements this year.
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Shoppers `choosing debit cards over credit`
The latest figures from UK payments association APACS have shown that more consumers are relying on debit cards, rather than credit cards, to fund their purchases.
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Unexpected rise in retail sales
The latest retail sales figures from the Confederation of British Industry (CBI) showed a `widely unexpected` rise in the 12 months to mid-April.
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Earnings fall `at fastest rate in 60 years`
Average weekly earnings in February were 5.8% lower than they were a year before, according to the Office for National Statistics.
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