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UK Debt Statistics - September

UK Debt Statistics - September

Below is the new debt statistics which have been released by Credit Action for September;

Total UK personal debt at the end of July 2011 stood at £1,451bn. The twelve-month growth rate increased 0.1 percentage points to 0.9%. Individuals currently owe nearly as much as the entire country produced between Q2 2010 and Q1 2011.

Total lending in July 2011 rose by £0.9bn; secured lending increased by £0.7bn in the month consumer credit lending increased by £0.2bn (total lending in Jan 2008 grew by £8.4bn).

Total secured lending on dwellings at the end of July 2011 stood at £1,242bn. The twelve-month growth rate increased 0.1 percentage points to 0.8%.

Total consumer credit lending to individuals at the end of July 2011 was £209bn.The annual growth rate of consumer credit remained at 1.7%.

UK banks and building societies wrote off £8.0bn of loans to individuals in the 4 quarters to end Q2 2011. In Q2 2011 they wrote off £2.06bn (£1.15bn of that was credit card debt). This amounts to a write-off of £22.54m a day.

Average household debt in the UK is ~ £8,055 (excluding mortgages). This figure increases to £15,491 if the average is based on the number of households who actually have some form of unsecured loan.

Average household debt in the UK is ~ £55,814 (including mortgages).

If you add to this the March 2010 budget report figure for public sector net debt (PSND) expected in 2015-16 (excluding financial interventions) then this figure rises to £106,429 per household.

Today in the UK

  • 334 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 59 seconds during a working day.
  • 1,391 Consumer County Court Judgements (CCJs) were issued every day during Q2 2011 and the average judgement amount was £3,345.
  • Citizen Advice Bureaux dealt with 9,072 new debt problems every working day in England and Wales during the year ending March 2011.
  • The average cost of raising a child from birth to the age of 21 is £27.50 a day.
  • 99 properties were repossessed every day during Q2 2011.
  • 112 new people became unemployed for more than 12 months every day during the 12 months to end June 2011.
  • 1,688 people reported they had become redundant every day during 3 months to end June 2011
  • £248,500,000 is the amount that the Government Public Sector Net Debt (PSDN), including financial interventions, will grow today (equivalent to £2,876 per second).
  • £144,600,000 is the interest the Government has to pay each day on the UKs net debt of £2266.3bn (which includes financial interventions). This is estimated to rise to £182m a day in 2015-16.
  • 197 mortgage possession claims will be issued and 154 mortgage possession orders will be made today.
  • 383 landlord possession claims will be issued and 258 landlord possession orders will be made today.
  • The UK population is projected to grow by 1,205 people a day over the next decade.
  • 24.1m plastic card purchase transactions will be made today with a total value of £1.182bn.
  • 7.3m cash withdrawals will be made today with a total value of £478m.
  • The average car will cost £16.08 to run today.
  • It costs £67.85 on average to fill a car with a 50 litre tank with unleaded petrol.

 

Debt Support Trust is a registered debt advice charity (SC041902) providing debt advice on a range of debt solutions including;

Benefits Advice

General Debt Advice

Individual Voluntary Agreement (IVA)

Protected Trust Deed (Scotland)

Refinance

Bankruptcy

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