The Money Statistics April 2012

£56,058 was the average household debt (including mortgages) in February

£172m was the daily amount of interest paid on personal debt in February

1,896 people people were made redundant every day between November and January

855,000 people had been unemployed for over a year between November and January

Every 15 min 28 sec a property is repossessed

Every 4 min 32 sec someone will be declared insolvent or bankrupt

UK Personal Debt

Outstanding personal debt stood at £1.457 trillion at the end of February 2012.

This is up from £1.452 trillion at the end of February 2011.

Individuals owed nearly as much as the entire country produced during the whole of 2011.

Outstanding secured (mortgage) lending stood at £1.249 trillion at the end of February 2012.

This is up from £1.241 trillion at the end of February 2011.

Outstanding unsecured (consumer credit) lending stood at £208 billion at the end of February 2012.

This is down from £212 billion at the end of February 2011.

Average household debt in the UK (excluding mortgages) was £8,002 in February.

This is down from a revised £8,005 in January.

Average household debt in the UK (including mortgages) was £56,058 in February.

This is up from a revised £56,016 in January.

The average amount owed per UK adult (including mortgages) was £29,671 in February. This was around 123% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £4,235 in February.

The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £111,358 in February.

Based on February 2012 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £63.1 billion.

This is equivalent to £172 million per day.

This means that UK households would have paid an average of £2,427 in annual interest repayments.

The Office for Budget Responsibility (OBR) predicts that total household debt will reach £2.044 trillion in Q1 2017.

This would mean that average household debt would reach £78,669 (assuming that the number of households in the UK remained the same between now and Q1 2017).

Net lending by UK Banks and Building Societies rose by £1.6 billion in total in February 2012.

Net secured lending rose by £1.2 billion in the month.

Net consumer credit lending rose by £0.4 billion.

UK Banks and Building Societies wrote-off £6.9 billion of loans to individuals over the 4 quarters to Q4 2011.

In Q4 2011 itself they wrote-off £1.48 billion (of which £907 million was credit card debt) amounting to a daily write-off of £16.23m.

Everyday in the UK

Based on the latest available data, Credit Action estimates that every day in the UK:

318 people are declared insolvent or bankrupt every day (based on Q4 2011 trends). This is equivalent to 1 person every 62 seconds during each working day.

1,473 Consumer County Court Judgements (CCJs) are issued every day (based on Q4 2011 trends). The average value of a Consumer CCJ in Q4 2011 was £2,949.

Citizens Advice Bureaux in England and Wales dealt with 8,518 new debt problems every working day during the year ending December 2011.

It costs an average of £28.44 per day to raise a child from birth to the age of 21.

93 properties are repossessed every day (based on Q4 2011 trends).

30 new people a day became unemployed for over 12 months during the year ending January 2012.

1,896 people a day reported they had become redundant between November 2011 and January 2012.

The Government’s Public Sector Net Debt (including financial interventions) will fall by an average of £165,300,000 today, equivalent to £1,913 per second (based on February 2012 data).

The Government pays an estimated £136,810,000 of interest each day on the UK’s Public Sector Net Debt of £2172.8bn (including financial interventions).

196 mortgage possession claims are issued and 149 mortgage possession orders are made every day

388 landlord possession claims are issued and 275 landlord possession orders are made every day.

The UK population is projected to grow by 1,205 people a day over the next decade.

27.5m plastic card purchase transactions were made every day in January 2012 with a total value of £1.361 billion.

8.1m cash withdrawals will be made daily with a total value of £547m (based on Q4 2011 trends).

The average car costs £18.33 per day to run.

It cost £69.25 to fill a 50 litre tank with unleaded petrol in March.