Average household debt ‘tops £9,000’

The average debt management burden of a British household, exclusive of mortgage arrears, is in excess of £9,000, according to the latest set of data compiled by the Credit Action charity.

If mortgage-related borrowing is brought into the equation then the typical household debt is worth a total of around £56,700 and the average for each British adult is close to £30,000.

Additionally, there are some 11.8 million homeowners around the country and the typical scale of their associated arrears is greater than £100,000 each, the charity reports.

Furthermore, Credit Action has described the amounts being paid out by UK consumers to service their debts as having “soared” in the past 12 months and reached an annual average of almost £3,775 per household.

Meanwhile, the Citizens Advice charity continues to be approached for debt advice by thousands of individuals from around the UK on a weekly basis.

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