Personal Debt in the UK

  • The population of the UK grew by an estimated 1,083 people a day between 2017 and 2018.
  • On average, a UK household spends £3.92 a day on water, electricity and gas. 
  • 318 people a day were declared insolvent or bankrupt in England and Wales in October to December 2019. This was equivalent to one person every 4 minutes and 32 seconds. 
  • In Northern Ireland, there were 7 insolvencies per day and in Scotland 36 insolvencies per day. 
  • Citizens Advice Bureaux in England and Wales dealt with 2,617 debt issues every day in the year to January 2020. 
  • 14 properties were repossessed every day in Q2 2019 in England and Wales, or one every 1 hour and 40 minutes. 
  • The number of UK mortgages with arrears of over 2.5% of the remaining balance fell by 18 a day.
  • The number of people unemployed in the UK fell by 200 per day in the year to December 2019. 
  • 1,185 people a day reported they had become redundant in October to December 2019. 
  • Net lending to individuals and housing associations in the UK grew by £167 million a day in December 2019. 
  • Government debt increased by £149.0 million a day in the year to December 2019. 
  • Borrowers paid £139 million a day in interest in December 2019. 
  • It costs an average of £22.92 per day for a couple to raise a child from birth to the age of 18. 
  • For a lone parent family, the cost of raising a child comes to £28.16 per day. 
  • 68 mortgage possession claims and 48 mortgage possession orders were made every day in England and Wales in October to December 2019.
  • 277 landlord possession claims and 223 landlord possession orders were made every day

Personal Debt in the UK

Total UK Personal Debt

People in the UK owed £1,675 billion at the end of December 2019. This is up by £48.8 billion from £1,627 billion at the end of December 2018, and extra £925 per UK adult over the year.

Type of Personal DebtTotal Personal Debt £ billionPer Household £Per Adult £
Secured (Mortgages) £1,451.3 billion £52,160 £27,517
Unsecured Consumer Debt £224.1 billion £8,053 £4,248
Of Which, Credit Card £72.2 billion £2,594 £1,369
Grand Total

(December 2019)

£1,675.4 billion £60,213 £31,766

Statistics Source: https://www.themoneycharity.org.uk

We have assisted many people with personal debt in Hereford – view our testimonials here https://www.griffinandking.co.uk/testimonials.php

If you would like further information on Corporate or Personal debt solutions please contact Griffin & King Insolvency Practitioners Hereford on 01432 291013, and speak to Tim, Mark or Janet.

You can also contact Janet by email on janet.peacock@griffinandking.co.uk, or by text or calling on 07545 806 531.

Don’t wait until it’s too late! 

Regional Locations

  • Walsall 01922 722205
  • Birmingham 0121 371 9231
  • Bournemouth 01202 355348
  • Cannock 01543 401377
  • Hereford 01432 291013
  • Redditch 01527 531350
  • Rugeley 01889 529273
  • Shrewsbury 01743 491239
  • Stafford 01785 318768
  • Stoke 01782 580886
  • Tamworth 01827 849961
  • Wolverhampton 01902 489657