Abacus Daily Debt News

Latest debt statistics published

New figures regarding personal debt levels in the UK have been published, revealing that - at the end of December last year - the amount stood at £1.46 billion.

Statistics from Credit Action have shown that, excluding mortgages, the average household debt in the country had reached approximately £9,000, although if unsecured loans were included in the calculations, this would climb to £18,722.

In addition, consumer borrowing through overdrafts, personal loans, credit cards and finance deals also experienced a rise, averaging £4,692 per adult by the close of the year.

And interest payments on debt for the last 12 months reached £66 billion - or, on average, £2,620 per family unit.

PricewaterhouseCoopers observed that the typical household would have to spend around 15 per cent of its net income to meet such interest demands.

Earlier numbers from Credit Action in January indicated that the average debt levels for households - without mortgages - reached £9,016.

By Sarah Adie