UK’s personal debt ‘up 10% since last year’

Collectively British consumers owed around £1,345 billion at the end of June 2007 and excluding mortgage arrears the average UK household has close to £8,840 in outstanding debts.

Additionally, more than 5,000 British adults now approach Citizens Advice about debt every day and a total of £217 billion was borrowed as consumer credit in June of this year alone, Credit Action has revealed.

The national charity also reports that the personal debt management burden is increasing in the UK by close to £1 million every minute, despite the cost of borrowing standing at a six-year high.

Figures from Citizens Advice show that more than 1.4 million people across the UK turned to its staff for debt advice over the course of last year.


Tell others:


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.