– 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 a day.

– The number of people unemployed in the UK fell by 90 per day in the year to June 2019.

 1,143 people a day reported they had become redundant in April to June 2019.

– Net lending to individuals and housing associations in the UK grew by £127 million a day in June 2019.

– Government debt increased by £115.1 million a day in the year to July 2019.

– Borrowers paid £139 million a day in interest in June 2019.

– It costs an average of £22.95 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 £27.90 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

Personal Debt in the UK

People in the UK owed £1,642 billion at the end of June 2019. This is up from £1,596 billion at the end of June 2018, an extra £887 per UK adult over the year.

Type of Personal Debt Total Personal Debt £billion Per Household £ Per Adult £
Secured (Mortgages) £1,4242 billion £51,309 £27,004
Unsecured Consumer Debt £218.1 billion £7,856 £4,135
Of Which, Credit Card £72.9 billion £2,625 £1,381
Grand Total (May 2019) £1,642.3 billion £59,166 £31,139

 

The average total debt per household, including mortgages, was £59,166 and per adult was £31,139, around 111.0% of average earnings. This is up from a revised £31,067 a month earlier.

Based on June 2019 trends, the UK’s total interest payments on personal debt over a 12-month period would have been £50,803 million, an average of £139 million per day. The average annual interest per household would have been £1,849, and per person £963, 3.4% of average earnings.

According to the Office for Budget Responsibility’s March 2019 forecast, household debt is forecast to reach £2.425 trillion in 2023-24. This would make the average household debt £86,388 (assuming household numbers track ONS population projections.)

Statistics Source: https//www.themoneycharity.org.uk

We have provided many people with personal debt help in the UK – view 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, Cheryl 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!