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UK Personal Debt Statistics

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UK personal debt statistics

UK Personal Debt Statistics - Jan 2016

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

Amount Owed:

People in the UK owed £1.458 TRILLION at the end of November 2015. This figure is up from £1.423 TRILLION at the end of November 2014 – an extra £708.35 per UK adult.

Average Borrowing:

The average total debt per household – including mortgages – was £54,012 in November.

That's an average debt per adult of £28,877 – which is about 113.3% of average earnings. This increased from an average of £28,829 per adult in October.

Consumer Credit Levels

Outstanding consumer credit lending was £178.15 BILLION at the end of November 2015.

This is up from £168.6 BILLION at the end of November 2014, and is an increase of £188.90 for every adult in UK.

This means average consumer credit borrowing per UK adult is now £3,528

Credit Card Borrowing

Total credit card debt in November 2015 was £63.1 BILLION. This is an average of £2,336 per household

This means at the average credit card interest rate it would take 25 years and 5 months to repay if you made the minimum repaymen each month.

Debts Written Off By Banks

UK banks and buiding societies wrote off £2.881 BILLION of loans to individuals over the four quarters to Q3 2015.

CCJ's

2,330 consumer County Court Judgments (CCJS) are issued every day, with an average value of £2,171.

Number Of Personal Insolvencies

209 people a day are declared insolvent or bankrupt. This is equivalent to one person every 6 MINUTES 53 SECONDS.


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 12 January 2016

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