• Total UK personal debt at the end of July 2011 stood at £1,451billion. The twelve-month growth rate increased 0.1 percentage points to 0.9 per cent. Individuals currently owe nearly as much as the entire country produced between Q2 2010 and Q1 2011.
• Total lending in July 2011 rose by £0.9billion; secured lending increased by £0.7billion in the month consumer credit lending increased by £0.2billion (total lending in January 2008 grew by £8.4billion).
• Total consumer credit lending to individuals at the end of July 2011 was £209billion. The annual growth rate of consumer credit remained at 1.7 per cent.
• Average household debt in the UK is £8,055 (excluding mortgages). This figure increases to £15,491 if the average is based on the number of households who actually have some form of unsecured loan.
• Average owed by every UK adult is £29,542 (including mortgages). This is 123 per cent of average earnings.
• The average interest paid by each household on their total debt is approximately £2,467 each year.
• UK banks and building societies wrote off £8billion of loans to individuals in the four quarters to end Q2 2011. In Q2 2011 they wrote off £2.06billion (£1.15billion of that was credit card debt). This amounts to a write-off of £22.54million a day.
• 334 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 59 seconds during a working day.
• 1,391 Consumer County Court Judgements (CCJs) were issued every day during Q2 2011 and the average judgement amount was £3,345.
• Citizen Advice Bureau dealt with 9,072 new debt problems every working day in England and Wales during the year ending March 2011.
• 99 properties were repossessed every day during April-June 2011.
• 1,688 people reported they had become redundant every day during 3 months to end June 2011
Source: Credit Action
