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Debt management weekly round up

25/03/2011 Get Adobe Flash player

This week we learned that debt problems are being suffered by even the over 55s, many of whom are in danger of having debt afflict their retirement years.

According to planning services firm Prudential more people "across the board" are entering retirement with money worries because they are quite simply overspending.

Financial advisor at the company Christopher Friel, says: "People are enjoying their later years more; they are going out and there are more credit cards freely available.

Homeowners will have welcomed interest rates being held this week, though Kevin Still of Atlantic Financial Management advised: “There remains a general expectation that interest rates will rise for UK homeowners this year along with a rising tax burden, insurance premiums, fuel costs and inflation outstripping salary increases.”

The Household Finance Index has outlined the biggest squeeze on finances in almost two years, as Brits face a rise in costs alongside falling incomes.

Research firm Markit highlights that households are now at their most pessimistic since the survey began in February of 2009. ADNFCR-2613-ID-19954153-ADNFCR

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