Credit Action: UK's personal debt stands at £1.45bn
www.moneynews.co.uk > Loans > Credit Action: UK's personal debt stands at £1.45bn
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Money News |
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Credit Action: UK's personal debt stands at £1.45bn
Wed 1st Jul 2009
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The independent charity's latest statistics show that the average British household has debt levels of £58,360 when mortgages are included in the mix.
According to the group, the average amount owed by individual adults is £30,480 - a sum which equates to 132 per cent of their typical earnings.
The average amount borrowed through credit cards, retail and motor deals, unsecured personal loans and overdrafts rose to £4,860 per person in May 2009.
It also found that Britons' debts increased by £1 million every 77 seconds during this timeframe, compared to £1 million every five minutes during January 2008.
The Citizens Advice Bureau recently launched a new campaign aimed at encouraging young people to approach it for advice on how to work towards clearing their personal debts.
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