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New personal debt stats published

02/02/2010

Credit Action have today published new figures regarding personal debt levels in the UK. the figures show that at the end of December last year the amount stood at £1.46 billion.

Statistics from Credit Action have shown that, excluding mortgages, the average household debt in the country had reached approximately £9,000, although if unsecured loans were included in the calculations, this would climb to £18,722.

In addition, consumer borrowing through overdrafts, personal loans, credit cards and finance deals also experienced a rise, averaging £4,692 per adult by the close of the year.

And interest payments on debt for the last 12 months reached £66 billion - or, on average, £2,620 per family unit.

PricewaterhouseCoopers observed that the typical household would have to spend around 15 per cent of its net income to meet such interest demands.

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