Personal Debt levels 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 £3.92 a day on water, electricity and gas.
- 318 people a day were declared insolvent or bankrupt in England and Wales in October to December 2019. This was equivalent to one person every 4 minutes and 32 seconds.
- In Northern Ireland, there were 7 insolvencies per day and in Scotland 36 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 2,618 debt issues every day in the year to February 2020.
- 14 properties were repossessed every day in Q4 2019 in England and Wales, or one every 1 hour and 40 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance fell by 18 a day.
- The number of people unemployed in the UK fell by 14 per day in the year to January 2020.
- 1,152 people a day reported they had become redundant in November to January 2020.
- Net lending to individuals and housing associations in the UK grew by £135 million a day in January 2020.
- Government debt increased by £124.6 million a day in the year to February 2020.
- Borrowers paid £140 million a day in interest in January 2020.
- 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 48 mortgage possession orders were made every day in England and Wales in October to December 2019.
- 277 landlord possession claims and 223 landlord possession orders were made every day
Personal Debt levels Hereford
This Months Highlights
- £60,363 Average total debt per household
- £2,595 Average credit card debt per household in January 2020
- £4,264 Total unsecured debt per UK adult, January 2020
- -0.3% change in outstanding credit card balances in year to January 2020
- 12.8 million Number of households with either no, or less than £1500, in savings
- 20.77% Average credit card interest rate in February 2020
- 4.8 million – The number of households without at least one essential household appliance (fridge, freezer, washing machine, cooker etc).
- 26 years and 8 months – Time to pay off average credit card debt making only the minimum payment per month.
Statistics Source: https://www.themoneycharity.org.uk
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