Home > News > Debt advice

More than 4 million fear they`ll be made redundant Consumers took on more mortgage debt in July Debts called in by parents Teenagers `scared of debt` Rising household costs could pressure people in debt Pensions debt may impact workers` retirement funds Welsh young adults `at highest risk of debt problems` Over 50s can`t afford to enjoy retirement because of debts Budget: tackling the nation`s debt Short-term debt: `no need for price control` The cost of clearing debt Education debt Tackling the national debt Number of mortgage deals on offer exceeds 3,000 Almost 5 million take on debt to pay household bills OECD: household debt more than 120% of disposable income Petrol price falls help people in debt Amount of mortgage debt taken on at lowest level in ten years Northern Ireland sees significant IVA rise Overdraft debt `becoming more expensive`

Personal debt `up £115bn in 12 months`

03/10/2007

The total personal debt in the UK has increased by nearly ten per cent within the last 12 months, according to new figures.

At the end of August, the total personal debt stood at £1,363 billion - up £115 billion or 9.9 per cent compared with August 2006, statistics from Credit Action show. Overall, Britain`s personal debt is increasing by £1 million every four minutes.

The average household debt in the UK is £56,309 including mortgages, as total secured lending on homes rose by 10.8 per cent year-on-year to £1,148 billion. The average household debt will increase by £13 each day, if current trends are to continue.

As a result of the rising personal debt throughout the country, Citizen`s Advice centres are dealing with an average of 6,600 debt problems from consumers each day.

Credit Action is a national money education charity.

More than 4 million fear they`ll be made redundant 16/12/2010 - According to R3`s quarterly personal debt tracker, more than 4 Consumers took on more mortgage debt in July 26/08/2010 - Consumers took on £2bn more mortgage debt than they repaid Debts called in by parents 26/08/2010 - According to research, `the bank of Mum and Dad` is Teenagers `scared of debt` 19/08/2010 - Nearly two thirds of teenagers are `scared` of debt, according