Debt Statistics

May 1, 2008 on 9:16 am | In Debt Management

The latest and most notable debt statistics are:

  • £1 million of debt incurred every 5 minutes
  • The daily increase in UK debt is £309 million
  • The average household debt including mortgages is £57,420
  • We pay £257 million interest on our debt every day
  • The total UK debt is £1,430 billion
  • Nearly 300 people will be declared bankrupt today

(Credit Action)

Obviously our debt mountain is getting bigger. I can’t remember where I read it but apparently we have more debt in this country than the whole of Europe. The country is heading for recession and this will be accelerated as the personal lending, which has supported our economy over recent years, dries up.

I would guess most people are putting their head in the sand and not dealing with a debt problem which is nagging at them. When we see a client at Simple Debt Solutions the feedback we get is that they feel like the stress has been lifted. This is because we give sound advice and a practical plan which we can implement on a client’s behalf.

Just give Simple Debt Solutions a call, no matter how trivial you feel the problem is and we will provide a solution.

 

Our Promise