The November 2017 Money Statistics update on personal finance and personal debt in the UK, from The Money Charity.
Everyday in the UK…
• The population of the UK grew by an estimated 1,474 people a day between 2015 and 2016.
- On average, a UK household spends £3.32 a day on water, electricity and gas.
- 277 people a day are declared insolvent or bankrupt. This is equivalent to one person every 5 minutes 12 seconds.
- 46.7 million Plastic card purchase transactions were made every day in May 2017, with a total value of £1.94 billion.
- 3,374 Consumer County Court Judgments (CCJs) are issued every day, with an average value of £1,509.
- Citizens Advice Bureaux in England and Wales dealt with 3,828 new debt problems every day during the quarter ending September 2017.
- 13 properties are repossessed every day, or one every 1 hour 50 minutes.
- The number of mortgages with arrears of over 2.5% of the remaining balance fell by 13 a day.
- 1,163 people a day reported they had become redundant between July and September.
- Net lending to individuals in the UK increased by £158 million a day.
- The Government debt grew by £8.2m a day during September 2017 (£95 per second).
- Borrowers would repay £137 a day in interest over a year, based on September 2017 trends.
- It costs an average of £30.23 per day to raise a child from birth to the age of 21.
- 56 mortgage possession claims and 36 mortgage possession orders are made every day.
- 349 landlord possession claims and
274 landlord possession orders are made every day.
Personal debt in the UK
Personal Debt statistics from The Money Charity:
- People in the UK owed £1.557 trillion at the end of September 2017. This is up from £1.505 trillion at the end of September 2016 an extra £1030.47 per UK adult.
- The average total debt per household – including mortgages was £57,490 in September. The revised figure for August was £57,311.
- Per adult in the UK that’s an average debt of £30,096 in September – around 113.8% of average earnings. This is slightly up from a revised £30,012 a month earlier.
Money Statistics (including Personal Debt) source: https://www.themoneycharity.org.uk (The Money Charity is the UK’s financial capability charity.)
For more information on Personal Debt Solutions call Griffin and King Insolvency Practitioners now on 0845 017 0702 for a free consultation.