UK Personal Debt
Outstanding personal debt stood at £1.456 trillion at the end of January 2012.
This is up from £1.452 trillion at the end of January 2011.
Individuals owed nearly as much as the entire country produced during
the whole of 2011.
Outstanding secured (mortgage) lending stood at £1.248 trillion at the end of January 2012.
This is up from £1.240 trillion at the end of January 2011.
Outstanding unsecured (consumer credit) lending stood at £207 billion at the end of January 2012.
This is down from £212 billion at the end of January 2011.
Average household debt in the UK (excluding mortgages) was £7,975 in January.
This is up from a revised £7,951 in December.
Average household debt in the UK (including mortgages) was £55,988 in January.
This is up from a revised £55,843 in December.
The average amount owed per UK adult (including mortgages) was £29,634 in January. 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 £4,221 in January.
The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £111,260 in January.
Based on January 2012 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £63.2 billion.
This is equivalent to £173 million per day.
This means that UK households would have paid an average of £2,432 in annual interest repayments.
The Office for Budget Responsibility (OBR) predicts that total household debt will reach £2.045 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 £1.8 billion in total in January 2012.
Net secured lending rose by £1.6 billion in the month.
Net consumer credit lending rose by £0.1 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 8,652 new debt problems every working day during the year ending September 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).
82 new people a day became unemployed for over 12 months during the year ending December 2011.
1,797 people a day reported they had become redundant between October and December 2011.
The Government’s Public Sector Net Debt (including financial interventions) will grow by an average of £212,100,000 today, equivalent to £2,454 per second (based on January 2012 data).
The Government pays an estimated £137,750,000 of interest each day on the UK’s Public Sector Net Debt of £2311.6bn (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.
25.9m plastic card purchase transactions were made every day in December 2011 with a total value of £1.222 billion.
8.0m cash withdrawals will be made daily with a total value of £531m (based on Q3 2011 trends).
The average car costs £18.33 per day to run.
It cost £67.50 to fill a 50 litre tank with unleaded petrol in February.