Credit action is a charity which provides debt statistics about personal debt in the UK. January’s statistics are
– Total UK personal debt at the end of November 2010 stood at £1,454bn.
– UK banks and building societies wrote off £9.9bn of loans to individuals in the last 12 months to end Q3 2010. In Q3 2010 they wrote off £1.83bn (£740m of that was credit card debt). This amounts to a write-off of £20.10m a day.
– Average household debt in the UK is ~ £8,495 (excluding mortgages). This figure increases to £16,336 if the average is based on the number of households who actually have some form of unsecured loan.
In the UK today:
- 372 people will be declared insolvent or bankrupt. This is equivalent to 1 person every 53 seconds during a working day.
- 1,716 Consumer County Court Judgements (CCJs) were issued daily during Q3 2010. The average judgement amount was £3,312.
- 1,000 people are seeking some form of formal debt rescheduling every working day.
- 98 properties were repossessed daily during Q3 2010