The Money Statistics October 2012

Outstanding personal debt stood at £1.412 trillion at the end of August 2012.

This is up from £1.407 trillion at the end of August 2011.
Individuals owed nearly as much as the entire country produced during the whole of 2011.

Outstanding secured (mortgage) lending stood at £1.256 trillion at the end of August 2012.

This is up from £1.242 trillion at the end of August 2011.

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

This is down from £165 billion at the end of August 2011.

Average household debt in the UK (excluding mortgages) was £5,949 in August.

This is down from a revised £5,971 in July.

Average household debt in the UK (including mortgages) was £53,706 in August.

This is down from a revised £53,736 in July.

The average amount owed per UK adult (including mortgages) was £28,754 in August.

This is down from a revised £28,770 in July, 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 £3,185 in August. This is down from £3,197 in July.

The estimated average outstanding mortgage for the 11.2m households that carry mortgage debt stood at £111,793 in August.

Based on August 2012 trends, the UK’s total interest repayments on personal debt over a 12 month period would have been £60.1 billion.

This is equivalent to £164 million per day.

This means that UK households would have paid an average of £2,284 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 fell by £0.4 billion in total in August 2012. Net secured lending fell by £0.3 billion in the month.

Net consumer credit lending was broadly unchanged.

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

In Q2 2012 itself they wrote-off £1.15 billion (of which £567 million was credit card debt) amounting to a daily write-off of £12.52m.

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

299 people are declared insolvent or bankrupt every day (based on Q2 2012 trends). This is equivalent to one person every 4 minutes 49 seconds.

1,170 Consumer County Court Judgements (CCJs) are issued every day (based on Q2 2012 trends). The average value of a Consumer CCJ in Q2 2012 was £3,217.

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.

93 properties are repossessed every day (based on Q2 2012 trends).

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

1,552 people a day reported they had become redundant between May and July 2012.

Public Sector Net Borrowing (excluding financial interventions) was £14.4bn in August, meaning that the Government borrowed an average of £464,516,129 per day during the month (equivalent to £5,376 per second).

164 mortgage possession claims are issued and 127 mortgage possession orders are made every day

396 landlord possession claims are issued and 279 landlord possession orders are made every day.

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

28.0m plastic card purchase transactions were made every day in July 2012 with a total value of £1.357 billion.

8.7m cash machine transactions were made every day in August with a total value of £349m.

The average car costs £18.33 per day to run.

It cost £70.10 to fill a 50 litre tank with unleaded petrol in September.