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 Facts and Figures - (Compiled 1st July 2008)
Total UK personal debt
Total UK personal debt at the end of May 2008 stood at £1,443bn. The growth rate increased to 8.0% for the previous 12 months which equates to an increase of ~ £107bn.
Total secured lending on homes at the end of May 2008 stood at £1,210bn. This has increased 8.2% in the last 12 months.
Total consumer credit lending to individuals in May 2008 was £233bn. This has increased 7.0% in the last 12 months.
Total lending in May 2008 grew by £5.4bn. Secured lending grew by £4.1bn in the month. Consumer credit lending grew by £1.4bn.
Average household debt in the UK is ~ £9,341 (excluding mortgages). This figure increases to £21,725 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 ~ £57,941 (including mortgages).
Average owed by every UK adult is ~ £30,394 (including mortgages).
Average outstanding mortgage for the 11.8m households who currently have mortgages now stands at ~ £102,554.
Britain's interest repayments have soared to £94.0bn in the last 12months. The average interest paid by each household on their total debt is approximately £3,774 each year which has increased £300 in the last 12 months.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,900 per average UK adult at the end of May 2008.