The Money Statistics December 2012

£53,912 was the average household debt (including mortgages) in October

£166m was the daily amount of interest paid on personal debt in October

1,399 people people were made redundant every day between July and September

894,000 people had been unemployed for over a year between July and September

Every 16 min 4 sec a property is repossessed

Every 4 min 42 sec someone will be declared insolvent or bankrupt

UK Personal Debt

Outstanding personal debt stood at £1.421 trillion at the end of October 2012.

This is up from £1.406 trillion at the end of October 2011.

At the end of October 2012, individuals owed nearly as much as the entire country produced during the whole of 2011.

Outstanding secured (mortgage) lending stood at £1.264 trillion at the end of October 2012.

This is up from £1.243 trillion at the end of October 2011.

Outstanding unsecured (consumer credit) lending stood at £156 billion at the end of October 2012.

This is down from £162 billion at the end of October 2011.

Average household debt in the UK (excluding mortgages) was £5,934 in October.

This is down from a revised £5,973 in September.

Average household debt in the UK (including mortgages) was £53,912 in October.

This is down from a revised £53,944 in September.

The average amount owed per UK adult (including mortgages) was £28,925 in October.

This is down from a revised £28,942 in September, and was around 117% of average earnings.

Average consumer borrowing (including credit cards, motor and retail finance deals, overdrafts and unsecured loans) per UK adult was £3,184 in October. This is down from a revised £3,205 in September.

The estimated average outstanding mortgage for the 11.3m households that carry mortgage debt stood at £111,592 in October.

Based on October 2012 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £60.7 billion.

This is equivalent to £166 million per day.

This means that UK households would have paid an average of £2,304 in annual interest repayments.

The Office for Budget Responsibility (OBR) predicted in March 2012 that total household debt will reach £2.044 trillion in Q1 2017.

This would mean that average household debt would reach £77,556 (assuming that the number of households in the UK remained the same between now and Q1 2017).

UK Banks and Building Societies wrote-off £5.0 billion of loans to individuals over the 4 quarters to Q3 2012.

Net consumer credit lending fell by £0.5 billion.

UK Banks and Building Societies wrote-off £5.3 billion of loans to individuals over the 4 quarters to Q2 2012.

In Q3 2012 itself they wrote-off £1.04 billion (of which £473 million was credit card debt) amounting to a daily write-off of £11.38m.

Everyday in the UK

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

307 people are declared insolvent or bankrupt every day (based on Q3 2012 trends). This is equivalent to one person every 4 minutes 42 seconds.

1,556 Consumer County Court Judgements (CCJs) are issued every day (based on Q3 2012 trends). The average value of a Consumer CCJ in Q3 2012 was £2,646.

Citizens Advice Bureaux in England and Wales dealt with 8,465 new debt problems every working day during the year ending June 2012.

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

90 properties are repossessed every day (based on Q3 2012 trends).

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

1,399 people a day reported they had become redundant between July and September 2012.

Public Sector Net Borrowing (excluding financial interventions) was £8.6bn in October, meaning that the Government borrowed an average of £277,419,355 per day during the month (equivalent to £3,211 per second).

155 mortgage possession claims are issued and 111 mortgage possession orders are made every day

426 landlord possession claims are issued and 281 landlord possession orders are made every day.

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

27.7m plastic card purchase transactions were made every day in September 2012 with a total value of £1.362 billion.

8.7m cash machine transactions were made every day in October with a total value of £336m.

The average car costs £18.33 per day to run.

It cost £67.55 to fill a 50 litre tank with unleaded petrol in November.