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Debt factfile
The need for independent money advice free at the point of delivery has never been greater.
Debt facts & figures compiled by Credit Action - 1 September 2010
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The average household debt in the UK excluding mortgages is £8,628. This figure increases to £18,000 if the average is based on the number of households who actually have some form of unsecured loan.
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The average household debt in the UK including mortgages is £57,789.
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Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,467 per average UK adult at the end of July 2010.
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23m plastic card purchase transactions will be made today with a total value of £1.101bn.
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The Office for Budget Responsibility (OBR) predicts that household debt will be £1,823bn by end 2015 which is a growth of £159m a day. This would take the average household debt to £72,341 per household
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Total UK personal debt at the end of July 2010 stood at £1,456bn. The twelve-month growth remained at 0.8%. Individuals owe more than what the whole country produces in a year.
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103 properties were repossessed every day during Q2 2010
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The Insolvency Service said there were 34,743 individual insolvencies in England and Wales (381 people a day or 1 every 3.78 minutes) in Q2 2010 on a seasonally adjusted basis. This was a decrease of 2.6% on the previous quarter and an increase of 5% on the same period a year ago.
For more facts and statistics visit www.infohub.moneyadvicetrust.org
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