UK debt figures updated
Friday, June 5th 2009
Credit card borrowing has helped fuel a general rise in the nation's personal debt burden, new figures indicate.
According to Credit Action, the average amount owed by each UK adult to creditors by the end of April came to £30,500, with the national personal debt burden rising to £1.459 trillion.
Total lending in April 2009 hit £1.3bn - around £300m of this total consisted of unsecured debt, such as standard and low rate credit cards, personal loans and other advances.
Excluding mortgages, average household debt came to around £9,300 - although this figure rises to £21,570 if only households who have previously taken out an unsecured loan are taken into account.
This new Credit Action data chimes closely with a report released by EuroDebt late last month, showing that the average household affected by debt owed around £29,000 each to creditors.
People participating in debt management plans from the firm were found to hold three credit cards, owing around £3,600 on each.
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