At Simple Debt Solutions, our experienced, ethical debt advisors will help deal with all your debt queries and will give you clear, jargon-free and impartial advice to help you decide which course of action is the best for you. We’re open 9.00am until 9.00pm 7 days a week or you can fill-in our online confidential form and we’ll get back to you.
1. Don't ignore the problem It won't go away and the longer you leave it, the worse it becomes.
2. Be wary of borrowing more money Don't borrow more money to pay off your existing debts with out getting professional advice first (Our fully trained debt advice team are available 9.00am until 9.00pm 7 days a week on 0800 389 5959).
3. Don't turn your unsecured loans into a mortgage without getting debt advice first.
4. Do not pay anyone for debt advice.
Debt Facts and Figures - (Compiled 1st July 2008)
Debt Facts and Figures - (Compiled 1st June 2008)
Debt Facts and Figures - (Compiled 1st March 2008)
Debt - The Hard Facts (Compiled 1st February 2008)
Debt - The Hard Facts (Compiled 4th January 2008)
Christmas / New Year Season (Special Report)
Debt - The Hard Facts (Compiled 1st October 2007)
Debt - The Hard Facts (Compiled 1st August 2007)
Debt - The Hard Facts (Compiled 1st June 2007)
Debt - The Hard Facts (Compiled 1st February 2008)
Total UK personal debt
Total UK personal debt at the end of December 2007 stood at £1,409bn.
The growth rate increased to 9.3% for the previous 12 months which equates to an increase of ~ £120bn.
Total secured lending on homes at the end of December 2007 stood at £1,185bn.
This has increased 10.0% in the last 12 months.
Total consumer credit lending to individuals in December 2007 was £224bn.
This has increased 5.7% in the last 12 months.
Total lending in December 2007 grew by £9.1bn. Secured lending grew by £8.6bn in the month.
Consumer credit lending grew by £0.6bn.
Average household debt in the UK is ~ £8,985 (excluding mortgages). This figure increases to £20,895 if the average is based on the number of households who actually have some form of unsecured loan.
Average household debt in the UK is ~ £56,588 (including mortgages).
Average owed by every UK adult is ~ £29,684 (including mortgages). This grew by ~ £185 last month.
Average outstanding mortgage for the 11.8m households who currently have mortgages exceeded £100,000 for the first time and now stands at ~ £100,451.
Two fifths of mortgagors have secured debts of over £90,000, up from one fifth in 2004.
Britain's interest repayments have soared to a record £94.6bn in the last 12months which is an annual increase of 15.10%. The average interest paid by each household on their total debt is approximately £3,800 each year which has increased £500 in the last 12 months.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,713 per average UK adult at the end of December 2007.
Britain's personal debt is increasing by ~ £1 million every 5 minutes.
Today in the UK:
1) Consumers will borrow an additional £327m today
2) Consumers will pay £259m in interest today
3) The average household debt will increase by over £13.15 today
4) 77 properties will be repossessed today
5) 305 people today will be declared insolvent or bankrupt
6) 2,750 County Court Judgements (CCJs) issued
7) Bank and building societies will hand out £1bn in mortgages today
8) Citizen Advice Bureaus will deal with 6,600 debt problems today
9) The average car will cost £15.42 to run today
10) More than 7,716 loan repayments are going unpaid every day
11) The average home will cost £30 today to run
12) Raising a child to the age of 21 will now set you back £23.50 daily
13) £526m will be withdrawn from cash machines today.
14) 24.5m transactions worth £1.4bn will be spent on plastic cards today
15) 1/3rd of all groceries we buy today will end up in the dustbin.