In 2010 only in Britain’s poorest households did the unsecured debt/take home pay ratio rise. Data from ClearDebt sample of more than 59,000 people with debt worries.
ClearDebt take another look into the their debtor database and show their findings on how long it takes people to pay their debts, including some extreme examples such as the person who would need 694 years to become debt free
Spending more than you earn is the quickest route to misery – so said Dicken’s character Mr Micawber – we look at people with debt worries and the numbers that can’t make ends meet.
A look at more than 60, nearly enquiries made to ClearDebt shows that the less you earn, the more you are likely to have debt problems – but that significant debt problems exist at any level of income – even the highest.
The Insolvency Service recently published annual statistics for the period 2000 to 2009, covering bankruptcies, debt relief orders (DROs) and Individual Voluntary Arrangements (IVAs) in England and Wales by geographical areas. Using an interactive motion chart, ClearDebt have republished this data to display the evolution of personal insolvencies by district.
ClearDebt’s database of people with debt problems shows more people are struggling, despite lower unsecured debts.