The Money Statistics May 2013

£53,995 was the average household debt (inc. mortgages) in March.

£164m was the daily amount of interest paid on personal debt in March.

1,501 people were made redundant every day between Dec and Feb.

900,000 people had been unemployed for over a year between Dec and Feb.

Every 16 mins 26 secs a property is repossessed.

Every 5 mins 15 secs someone is declared insolvent or bankrupt.

UK Personal Debt

Outstanding personal debt stood at £1.423 trillion at the end of March 2013.

This is up from £1.409 trillion at the end of March 2012. At the end of March 2013, individuals owed nearly as much as the entire country produced during the whole of 2012.

Outstanding secured (mortgage) lending stood at £1.265 trillion at the end of March 2013. This is up from £1.250 trillion at the end of March 2012.

Outstanding unsecured (consumer credit) lending stood at £158 billion at the end of March 2013. This is down from £160 billion at the end of March 2012.

Average household debt in the UK (excluding mortgages) was £5,980 in March. This is up from a revised £5,978 in February.

Average household debt in the UK (including mortgages) was £53,995 in March. This is up from a revised £53,994 in February.

The average amount owed per UK adult (including mortgages) was £28,969 in March. This is unchanged from a revised £28,969 in February, and was around 119% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,208 in March. This is up from a revised £3,207 in February.

The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £112,394 in March.

Based on March 2013 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.9 billion. This is equivalent to £164 million per day. This means that UK households would have paid an average of £2,274 in annual interest repayments.

The Office for Budget Responsibility (OBR) predicted in March 2013 that total household debt will reach £1.931 trillion in Q1 2018. This would mean that average household debt would reach £73,284 (assuming that the number of households in the UK remained the same between now and Q1 2018).

Net lending to individuals by UK Banks and Building Societies rose by £0.9 billion in total in March 2013. Net secured lending rose by £0.4 billion in the month. Net consumer credit lending rose by £0.5 billion.

UK Banks and Building Societies wrote-off £4.5 billion of loans to individuals over the 4 quarters to Q4 2012. In Q4 2012 itself they wrote-off £999 million (of which £469 million was credit card debt) amounting to a daily write-off of £10.92m.

Everyday in the UK

274 people are declared insolvent or bankrupt every day (based on Q1 2013 trends). This is equivalent to one person every 5 minutes 15 seconds.

1,373 Consumer County Court Judgements (CCJs) are issued every day (based on Q1 2013 trends). The average value of a Consumer CCJ in Q1 2013 was £2,442.

Citizens Advice Bureaux in England and Wales dealt with 8,192 new debt problems every working day during the year ending December 2012.

It costs an average of £29.02 per day to raise a child from birth to the age of 21.

88 properties are repossessed every day (based on Q1 2013 trends).

58 new people a day became unemployed for over 12 months during the year ending February 2013.

1,501 people a day reported they had become redundant between December 2012 and February 2013.

Public Sector Net Borrowing (excluding financial interventions) was £15.1bn in March 2013, meaning that the Government borrowed an average of £487m per day during the month (equivalent to £5,638 per second).

158 mortgage possession claims are issued and 112 mortgage possession orders are made every day.

466 landlord possession claims are issued and 312 landlord possession orders are made every day.

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

31.7m plastic card purchase transactions were made every day in February 2013 with a total value of £1.585 billion.

8.6m cash machine transactions were made every day in March 2013 with a total value of £348m.

The average new car costs £18.33 per day to run.

It cost £68.45 to fill a 50 litre tank with unleaded petrol in April.