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UK Personal Debt Statistics May 2017

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UK Personal Debt Statistics - May 2017

The latest UK personal debt statistics from the Money Charity can be found below..

UK personal debt statistics May 2017

Amount Owed:

People in the UK owed £1.529 TRILLION at the end of March 2017. This figure is up from £1.484 TRILLION at the end of March 2016 – an extra £886.84 per UK adult.

Average Borrowing:

The average total debt per household – including mortgages – was £56,632 in March.

That's an average debt per adult of £30,277 – which is about 114.5% of average earnings.

Consumer Credit Levels

Outstanding consumer credit lending was £197.4 BILLION at the end of March 2017.

This is up from £182.8 BILLION at the end of March 2016, and is an increase of £288.31 for every adult in UK.

This means average consumer credit borrowing per UK adult is now £3,909

Credit Card Borrowing

Total credit card debt in March 2017 was £67.6 BILLION. This is an average of £2,504 per household

This means at the average credit card interest rate it would take 25 years and 11 months to repay if you made the minimum repayments each month.

Debts Written Off By Banks

UK banks and buiding societies wrote off £640 MILLION of loans and credit card debt to individuals in quarter 4 of 2016. That's roughly £7 MILLION a day.

CCJ's

3,321 consumer County Court Judgments (CCJS) are issued every day, with an average value of £1,495.

Number Of Personal Insolvencies

248 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 MINUTES 13 SECONDS.

Previous UK personal debt statistics from the Money Charity can be found here:

UK personal debt statistics January 2017

UK personal debt statistics August 2016

UK personal debt statistics May 2016

UK personal debt statistics March 2016

UK personal debt statistics January 2016


Bankruptcy Advice

Making yourself bankrupt is a big step to take and requires expert debt advice.

If you haven't already received advice from us and are considering how to go bankrupt, you can use our online bankruptcy test tool, which will provide you with a a free assessment of whether you qualify for bankruptcy and what impact it will have on your current situation. We'll also send you our "Free Guide to Bankruptcy" by email.

Or, if you’d prefer to speak to us, call our FREE Bankruptcy Helpline on 0800 564 2211 (freephone, including all mobiles).

Bankruptcy Alternatives

Bankruptcy can be an effective way to solve personal debt, however it should ALWAYS be considered as a LAST RESORT, and the Court will expect you to HAVE considered any alternatives that you may qualify for.

Before you apply to go bankrupt make sure you're certain you've considered the following questions:

Need Bankruptcy Advice?

Our panel of specialists can quickly advise you on what to do if you are considering going bankrupt. Simply call the team FREE on 0800 564 2211.
Alternatively take the online bankruptcy test and check if you qualify.

  • Last updated 18 January 2017

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Baker Adams Advisory provides insolvency solutions to individuals throughout the UK; specialising in IVAs, CVAs, Liquidations, Protected Trust Deeds, Bankruptcy, Sequestrations. We do not administer or provide advice solely relating to debt management products, such as Debt Management Plans or Debt Payment Plans under the Debt Arrangement Scheme. We only provide advice after completing or receiving an initial fact find where the individual(s) concerned meets the criteria for one of our insolvency solutions, therefore, all advice is given in reasonable contemplation of an insolvency appointment.