Striking Numbers September 2019

Personal Debt in the UK

    • The population of the UK grew by an estimated 1,083 people a day between 2017 and 2018. 
    • On average, a UK household spends £4.05 a day on water, electricity and gas. 
    • 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.
    • In Northern Ireland, there were 8 insolvencies per day and in Scotland 39 insolvencies per day. 
    • Citizens Advice Bureaux in England and Wales dealt with 2,566 debt issues every day in the year to July 2019. 
    • 14 properties were repossessed every day in Q2 2019 in England and Wales, or one every 1 hour and 43 minutes. 
    • The number of UK mortgages with arrears of over 2.5% of the remaining balance fell by 6 a day.
    • The number of people unemployed in the UK fell by 79 per day in the year to July 2019.
    • 1,065 people a day reported they had become redundant in May to July 2019. 
    • Net lending to individuals and housing associations in the UK grew by £126 million a day in July 2019. 
    • Government debt increased by £102.5 million a day in the year to August 2019. 
    • Borrowers paid £139 million a day in interest in July 2019. 
    • It costs an average of £22.92 per day for a couple to raise a child from birth to the age of 18. 
    • For a lone parent family, the cost of raising a child comes to £28.16 per day. 
    • 68 mortgage possession claims and 44 mortgage possession orders were made every day in England and Wales in April to June 2019. 
    • 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 helpview 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.

Don’t wait until it’s too late! 

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