£54,472 was the average household debt (including mortgages) in February
£162 million was the daily amount of interest paid on personal debt in February
7,015 debt problems were dealt with by the CAB each working day over the year to September
1,282 people were made redundant every day between November and January
845,000 people had been unemployed for over a year between November and January
£10.6 million of loans are written-off daily by UK Banks and Building Societies (based on Q4 2013 trends)
Every 18 min 11 sec a property is repossessed (based on Q4 2013 trends)
Every 5 min 25 sec someone is declared insolvent or bankrupt (based on Q4 2013 trends)
£1.498 billion was the daily value of all purchases made using plastic cards in January
UK Personal Debt
Outstanding personal debt stood at £1.439 trillion at the end of February 2014. This is up from £1.424 trillion at the end of February 2013.
Outstanding secured (mortgage) lending stood at £1.280 trillion at the end of February 2014. This is up from £1.268 trillion at the end of February 2013.
Outstanding unsecured (consumer credit) lending stood at £159.0 billion at the end of February 2014. This is up from £156.5 billion at the end of February 2013.
Average household debt in the UK (excluding mortgages) was £6,018 in February. This is up from a revised £6,015 in January.
Average household debt in the UK (including mortgages) was £54,472 in February. This is up from a revised £54,408 in January.
The average amount owed per UK adult (including mortgages) was £28,673 in February. This is up from a revised £28,639 in January and was around 115% of average earnings.
Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,168 in February. This is up from a revised £3,166 in January.
The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £114,416 in February.
Based on February 2014 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £59.2 billion. This is equivalent to £162 million per day. This means that UK households would have paid an average of £2,242 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicted in March 2014 that total household debt will reach £2.251 trillion in Q1 2019. This would mean that average household debt would reach £85,220 (assuming that the number of households in the UK remained the same between now and Q1 2019).
Total net lending to individuals by UK Banks and Building Societies rose by £2.3 billion in February 2014. Net secured lending rose by £1.7 billion in the month; net consumer credit lending rose by £0.6 billion.
UK Banks and Building Societies wrote-off £3.61 billion of loans to individuals over the four quarters to Q4 2013. In Q4 2013 itself they wrote-off £971 million (of which £560 million was credit card debt) amounting to a daily write-off of £10.6 million.
Everyday in the UK
266 people are declared insolvent or bankrupt every day (based on Q4 2013 trends). This is equivalent to one person every 5 minutes 25 seconds.
It costs an average of £29.65 per day to raise a child from birth to the age of 21.