Debts On Ice

Debt Statistics: Total UK Personal Debt

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Statistics on Personal Debt in the UKTotal UK personal debt at the end of December 2010 stood at £1,452bn. The twelve-month growth rate decreased 0.1 percentage points to 0.7%. Individuals currently owe more than the entire country has produced during the last four quarters.

Total lending in December 2010 fell by £0.1bn; secured lending decreased by £0.3bn 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 December 2010 stood at £1,238bn. The twelve-month growth rate decreased 0.1 percentage points to 0.7%.

Striking Numbers

9,389
number of new debt problems dealt with by CAB each working day

1,732 people
made redundant daily

839,000
unemployed for > 12 month

£178m
personal interest paid in UK daily

836,000
unemployed for > 12 months

£57,608
average household debt (including mortgages)

£20.10m
daily write-offs of loans by banks & building societies

every 15 minutes
a property is repossessed

every 3.87 minutes
someone will be declared insolvent or bankrupt

£203,600,000
daily increase in Government national debt (PSDN)

£1,153,000,000
total value of all purchases made using plastic cards today

Total consumer credit lending to individuals at the end of December 2010 was £214bn. The annual growth rate of consumer credit was unchanged at 0.6%.

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 £8,480 (excluding mortgages). This figure increases to £16,307 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 £57,608 (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 £109,830 per household.

Today in the UK

  1. 372 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 53 seconds during a working day.
  2. 1,716 Consumer County Court Judgements (CCJs) were issued every day during Q3 2010 and the average judgement amount was £3,312.
  3. The average person will save £2.73 every day.
  4. Citizen Advice Bureaux dealt with 9,389 new debt problems every working day in England and Wales
  5. The average cost of raising a child from birth to the age of 21 is £26 a day.
  6. 1,000 people are seeking some form of formal debt rescheduling every working day.
  7. 98 properties were repossessed every day during Q3 2010
  8. 548 new people became unemployed for more than 12 months every day during the 12 months to end November 2010
  9. 1,721 people reported they had become redundant every day during 3 months to end November 2010
  10. £203,600,000 is the amount that the Government Public Sector Net Debt (PSDN), including financial interventions, will grow today (equivalent to £2,356 per second).
  11. £119,450,000 is the interest the Government has to pay each day on the UKs net debt of £2322.7 bn (which includes financial interventions). This is estimated to rise to £182m a day in 2015-16.
  12. 207 mortgage possession claims will be issued and 154 mortgage possession orders will be made today
  13. 372 landlord possession claims will be issued and 248 landlord possession orders will be made today.
  14. The UK population is projected to grow by 1,178 people a day over the next decade
  15. 24.1m plastic card purchase transactions will be made today with a total value of £1.153bn.
  16. 7.9m cash withdrawals will be made today with a total value of £530m
  17. The average car will cost £16.08 to run today

This information was collected and provided by www.creditaction.org.uk.

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