UK Personal Debt Statistics August 2016

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UK Personal Debt Statistics - August 2016

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

UK personal debt statistics May 2016

Amount Owed:

People in the UK owed £1.484 TRILLION at the end of June 2016. This figure is up from £1.444 TRILLION at the end of June 2015 – an extra £777.90 per UK adult.

Average Borrowing:

The average total debt per household – including mortgages – was £54,952 in June.

That's an average debt per adult of £29,379 – which is about 112.2% of average earnings.

Consumer Credit Levels

Outstanding consumer credit lending was £186 BILLION at the end of June 2016.

This is up from £176.1 BILLION at the end of Juneh 2015, and is an increase of £195.76 for every adult in UK.

This means average consumer credit borrowing per UK adult is now £3,683

Credit Card Borrowing

Total credit card debt in June 2016 was £65.2 BILLION. This is an average of £2,413 per household

This means at the average credit card interest rate it would take 25 years and 6 months to repay if you made the minimum repayments each month.

Debts Written Off By Banks

UK banks and buiding societies wrote off £624 MILLION of loans to individuals in the first quarter of 2016. That's roughly £6.9 MILLION a day.


2,102 consumer County Court Judgments (CCJS) are issued every day, with an average value of £2,030.

Number Of Personal Insolvencies

247 people a day are declared insolvent or bankrupt. This is equivalent to one person every 5 MINUTES 50 SECONDS.

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

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 22 11 (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 22 11.
Alternatively take the online bankruptcy test and check if you qualify.

  • Last updated 05 May 2016

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