Credit Action Debt Statistics

New debt statistics have been released by creditaction.org.uk and the new stats are as follows;

• 331 people every day of the year will be declared insolvent or bankrupt. This is equivalent to 1 person every 60 seconds during a working day.

• Total UK personal debt at the end of June 2011 stood at £1,451bn. The twelve-month growth rate remained unchanged at 0.8%. Individuals currently owe nearly as much as the entire country produced between Q2 2010 to Q1 2011.

• Total lending in June 2011 rose by £0.4bn; secured lending decreased by £0.1bn in the month; consumer credit lending increased by £0.4bn (total lending in Jan 2008 grew by £8.4bn).

• Total secured lending on dwellings at the end of June 2011 stood at £1,241bn. The twelve-month growth rate remained unchanged at 0.7%.

• Total consumer credit lending to individuals at the end of June 2011 was£210bn. The annual growth rate of consumer credit increased 0.3 percentage points to 1.8%.

• UK banks and building societies wrote off £9.5bn of loans to individuals in the 4 quarters to end Q1 2011. In Q1 2011 they wrote off £1.89bn (£866m of that was credit card debt). This amounts to a write-off of £20.71m a day.

• Average household debt in the UK is ~ £8,064 (excluding mortgages). This figure increases to £15,507 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 ~ £55,803 (including mortgages)

• If you add to this the March 2010 budget report figure for public sector net debt (PSND) expected in 2015-16 (excluding financial interventions) then this figure rises to £106,418 per household.

Today in the UK

• 1,577 Consumer County Court Judgements (CCJs) were issued every day during Q1 2011 and the average judgement amount was £3,118.

• Citizen Advice Bureaux dealt with 9,072 new debt problems every working day in England and Wales during the year ending March 2011.

• The average cost of raising a child from birth to the age of 21 is £27.50 a day

• 100 properties were repossessed every day during Q1 2011

• 36 new people became unemployed for more than 12 months every day during the 12 months to end May 2011

• 1,578 people reported they had become redundant every day during 3 months to end May 2011

• £251,500,000 is the amount that the Government Public Sector Net Debt (PSDN), including financial interventions, will grow today (equivalent to £2,911 per second)

• £144,660,000 is the interest the Government has to pay each day on the UKs net debt of £2276.0bn (which includes financial interventions). This is estimated to rise to £182m a day in 2015-16

• 220 mortgage possession claims will be issued and 160 mortgage possession orders will be made today

• 382 landlord possession claims will be issued and 265 landlord possession orders will be made today

• The UK population is projected to grow by 1,205 people a day over the next decade

• 24.1m plastic card purchase transactions will be made today with a total value of £1.182bn.

• 7.3m cash withdrawals will be made today with a total value of £478m

• The average car will cost £16.08 to run today

• It costs £67.80 on average to fill a car with a 50 litre tank with unleaded petrol.