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House Price Crash Forum

Credit Action Stats Updated December 2010


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HOLA441

No serious fall in the total debt despite the recession and dead housing market. :rolleyes:

£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

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HOLA442

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?

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HOLA443

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