Money education charity Credit Action has released the July debt statistics, a monthly release which details the level of debt in the UK.
Key statistics from the release, which shows month-by-month trends, include:
- CAB deal with 9,072 new debt problems each working day
- 1,271 people are made redundant daily
- 829,000 people have been unemployed for more than 12 months
- £55,862 is the average household debt (including mortgages)
- £29, 839 is the average amount owed by every UK adult (including mortgages)
- £178m is the personal interest paid in UK daily
- £20.71m is the daily write-offs of loans by banks & building societies
- Every 14 minutes a property is repossessed
- £68.05 is the amount it costs to fill a car with a 50-litre tank with unleaded petrol
- £334,000,000 is the daily increase in Government national debt (PSDN)
- £1,156,000,000 is the total value of all purchases made using plastic cards today
Joanna Parsley, Associate Director at Credit Action says, “July’s debt statistics show a mixed picture- one piece of good news is the number of people out of work for more than 12 month has fallen by 29,000, certainly bringing relief to those people as they look to budget.
“Yet, both secured and unsecured lending have increased this month, lifting both the average amount owed by every UK adult to £29,839 and the average amount of debt per household to £55,862.
“It’s important that with outstanding debts, consumers are looking to clear balances as soon as possible, so they are not paying unnecessary interest to avoid seeing even less of their valuable incomes.”
The full debt statistics can be accessed from the Credit Action web site:
Credit Action is the national money education charity, established in 1990. It works nationally promoting better thinking about money with a particular emphasis on those vulnerable to financial difficulties.