Want to know the true story of debt in the UK? Well, here's a few stats and facts:
Just to emphasise a few of these numbers:
- Total personal debt in the UK is running at £1.45 trillion (that's £1,454,000,000,000)
- Individuals owe more in personal debt than the country's annual output
- As a country we owe more in personal debt than we produce in economic output as a whole.
- The average UK household debt is £57,706
- The average UK adult on a debt management plan (e.g. seriously in schtuk) owes £29,875
- The average UK adult on a debt management plan has unsecured debts of £17,857, with 19% owing more than £30,000
- The average household pays over £2,582 in interest every year
- 46% of personal debt is on Credit Cards
- 372 people a day are declared insolvent or bankrupt, or one person every four minutes
- There are 7.9 million cash withdrawals every day, with a value of £530 million
- £2.73 is saved by the average person every day
Thanks to Money, Debt and Credit for this infographic and stats information on the true story of UK debt.