Charlie The Tramp Returns Posted November 30, 2010 Share Posted November 30, 2010 No serious fall in the total debt despite the recession and dead housing market. £1.452 trillion no problem Total UK personal debt at the end of October 2010 stood at £1,452bn. The twelve-month growth rate increased 0.1% to 0.8%. Individuals owe more than what the whole country produces in a year.Total lending in October 2010 rose by £1.3bn; secured lending increased by £1.0bn in the month; consumer credit lending increased by £0.3bn (total lending in Jan 2008 grew by £8.4bn). Total secured lending on dwellings at the end of October 2010 stood at £1,236bn. The twelve-month growth rate remained at 0.8%. Total consumer credit lending to individuals at the end of October 2010 was £216bn. The annual growth rate of consumer credit increased 0.4% to 0.6%. UK banks and building societies wrote off £9.9bn of loans to individuals in the last 12 months to end Q3 2010. In Q3 2010 they wrote off £1.83bn (£740m of that was credit card debt). This amounts to a write-off of £20.10m a day. Average household debt in the UK is ~ £8,556 (excluding mortgages). Striking Numbers 9,389 number of new debt problems dealt with by CAB each working day 1,589 people made redundant daily 817,000 unemployed for > 12 month £57,624 average household debt £178m personal interest paid in UK daily £20.10m daily write-offs of loans by banks & building societies every 15 minutes a property is repossessed every 3.87 minutes someone will be declared insolvent or bankrupt £345,800,000 daily increase in Government national debt (PSDN) £16.08 daily cost of running the average car Quote Link to comment Share on other sites More sharing options...
tinker Posted November 30, 2010 Share Posted November 30, 2010 That is a very good site. It is interesting that even in a time of cutting back the debt is still increasing. Getting out of the hole is going to be nigh on impossible, the levels of debt appear to have gone way beyond anything sustainable. It does not bode well for the future and future prosperity, does it? Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted November 30, 2010 Share Posted November 30, 2010 I wonder if some of this credit is being used more and more for day to day living expenses? Austerity is over-rated. Quote Link to comment Share on other sites More sharing options...
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