Personal Debt in the UK
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- The population of the UK grew by an estimated 1,083 people a day between 2017 and 2018.
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- On average, a UK household spends £4.05 a day on water, electricity and gas.
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- 340 people a day were declared insolvent or bankrupt in England and Wales in April to June 2019. This was equivalent to one person every 4 minutes and 14 seconds.
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- In Northern Ireland, there were 8 insolvencies per day and in Scotland 39 insolvencies per day.
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- Citizens Advice Bureaux in England and Wales dealt with 2,566 debt issues every day in the year to July 2019.
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- 14 properties were repossessed every day in Q2 2019 in England and Wales, or one every 1 hour and 43 minutes.
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- The number of UK mortgages with arrears of over 2.5% of the remaining balance fell by 6 a day.
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- The number of people unemployed in the UK fell by 79 per day in the year to July 2019.
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- 1,065 people a day reported they had become redundant in May to July 2019.
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- Net lending to individuals and housing associations in the UK grew by £126 million a day in July 2019.
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- Government debt increased by £102.5 million a day in the year to August 2019.
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- Borrowers paid £139 million a day in interest in July 2019.
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- It costs an average of £22.92 per day for a couple to raise a child from birth to the age of 18.
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- For a lone parent family, the cost of raising a child comes to £28.16 per day.
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- 68 mortgage possession claims and 44 mortgage possession orders were made every day in England and Wales in April to June 2019.
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- 293 landlord possession claims and 235 landlord possession orders were made every day.
Total UK Personal Debt
People in the UK owed £1,647 billion at the end of July 2019. This is up from £1,600 billion at the end of July 2018, and extra £888 per UK adult over the year.
|
Type of Personal Debt |
Total Personal Debt £ billion |
Per Household £ |
Per Adult £ |
|
Secured (Mortgages) |
£1,428.5 billion |
£51,464 |
£27,085 |
|
Unsecured Consumer Debt |
£218.0 billion |
£7,855 |
£4,134 |
|
Of Which, Credit Card |
£72.4 billion |
£2,609 |
£1,373 |
|
Grand Total (July 2019) |
£1,646.6 billion |
£59,319 |
£31,220 |
Statistics Source: https://themoneycharity.org.uk
We have provided many people in the UK with personal debt help – view our testimonials here.
If you would like further information on Corporate or Personal debt help please contact Griffin & King Insolvency Practitioners on 01922 722205, and speak to Tim, Mark or Janet.
You can also contact Janet by email on janet.peacock@griffinandking.co.uk, or by text or calling on 07545 806 531.
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