The Money Statistics July 2012

£55,514 was the average household debt (including mortgages) in May

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

1,694 people were made redundant every day between February and April

886,000 people had been unemployed for over a year between February and April

Every 13 min 44 sec a property is repossessed

Every 4 min 35 sec someone will be declared insolvent or bankrupt

UK Personal Debt

Outstanding personal debt stood at £1.460 trillion at the end of May 2012.

This is up from £1.451 trillion at the end of May 2011.

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

Outstanding secured (mortgage) lending stood at £1.252 trillion at the end of May 2012.

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

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

This is down from £210 billion at the end of May 2011.

Average household debt in the UK (including mortgages) was £55,514 in May.

This is up from a revised £55,485 in April.

The average amount owed per UK adult (including mortgages) was £29,722 in May. This was around 122% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £4,225 in May.

The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £111,261 in May.

Based on May 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 £2,399 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 £77,719 (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 £1.3 billion in total in May 2012.

Net secured lending rose by £0.6 billion in the month.

Net consumer credit lending rose by £0.7 billion.

UK Banks and Building Societies wrote-off £6.3 billion of loans to individuals over the 4 quarters to Q1 2012.

In Q1 2012 itself they wrote-off £1.28 billion (of which £568 million was credit card debt) amounting to a daily write-off of £14.03m.

Everyday in the UK

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

314 people are declared insolvent or bankrupt every day (based on Q1 2012 trends). This is equivalent to 1 person every 63 seconds during each working day.

1,443 Consumer County Court Judgements (CCJs) are issued every day (based on Q1 2012 trends). The average value of a Consumer CCJ in Q1 2012 was £2,866.

Citizens Advice Bureaux in England and Wales dealt with 8,551 new debt problems every working day during the year ending March 2012.

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

105 properties are repossessed every day (based on Q1 2012 trends).

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

1,694 people a day reported they had become redundant between February and April 2012.

The Government’s Public Sector Net Debt (including financial interventions) will fall by an average of £2,700,000 today, equivalent to £32 per second (based on May 2012 data).

The Government pays an estimated £159,450,000 of interest each day on the UK’s Public Sector Net Debt of £2246.3bn (including financial interventions).

182 mortgage possession claims are issued and 141 mortgage possession orders are made every day

400 landlord possession claims are issued and 277 landlord possession orders are made every day.

The UK population is growing by an estimated 1,342 people a day.

28.4m plastic card purchase transactions were made every day in April 2012 with a total value of £1.392 billion.

8.3m cash machine transactions were made every day in April with a total value of £325m.

The average car costs £18.33 per day to run.

It cost £66.90 to fill a 50 litre tank with unleaded petrol in June.