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: (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.

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