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Debt Problems in the U.K.: Facts and Figures

MONEYDEBT &CREDIT The True Story of Debt in the UK The forecast for the average person in the UK is looking pretty bleak when it comes to debt levels. With Christmas bills now dropping onto the doormat, the recent rise in VAT and inflation soaring at the same time as benefits being cut across the board, many Brits are finding it harder and harder to cope. Turn around your finances. With interest rates predicted to rise this year, many consumers could find themselves facing higher monthly payments at a time when they are struggling to meet their existing outgoings. Total personal debt in the UK £1,454 Dn Individuals owe more in personal debt than the country's annual output As a country we owe more in personal debt than our total GDP. The future impact of this on the UK is yet to manifest and there are many predictions as to how it will unfold. This report aims to reveal the true state of personal debt in the UK. £29,875 Average owed by UK adults Even more frightening is that the average person already on a debt management plan has unsecured debts to the value of £17,857, with 19% owing more than £30.000 on credit cards, personal loans, overdrafts, store cards and catalogues. Total Earnings Total Debt Vs This is 126% of average earnings £57,706 The average UK household debt The average household pays out over £2,582 in interest every year. AAARAAAA 46% UK Bank 1203 6355 7368 1165 Mr Credit 12/13 Of personal debt is on Credit Cards What is the make up of the type of personal debt for the average citizen in the UK? Credit Cards Personal Loan Overdraft Catalogue Store Card HP/Secured Loans Other 52% 36% 3% 2% 2% 2% 6% £2.73 7.9mil Vs is saved by the average person every day cash withdrawals every day with a value of £530 million 372 people a day will be declared insolvent or bankrupt That equates to 1 person every 4 minutes MONEYDEBT &CREDIT For those who are struggling with debt, seeking help as soon as possible can stop their finances from spiralling out of control and may also provide people with more options with which to tackle their debt. Turn around your finances.

Debt Problems in the U.K.: Facts and Figures

shared by rmmojado on Jan 23
This graphic, supplied by examines the debt problems plaguing the United Kingdom in lurid detail. According to the graphic, the total personal debt in the U.K. amounts to a mon...


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