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Jason

Debt Statistics Updated From Credit Action

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http://www.creditaction.org.uk/debtstats.htm

At the end of June 2006 the total
UK
personal debt was
£1,228bn
. The growth rate remains strong at 10.3% for the previous 12 months which equates to an increase of £100bn.
Total secured lending on homes passed
£1 trillion
(£1,000 billion) in May 2006.
In June 2006 it was
£1015.9bn
. This has increased 11.0% in the last 12 months.
Total consumer credit lending to individuals in June 2006 was
£211.6bn
. This has increased 7.3% in the last 12 months.
Total lending in June 2006 grew by £9.8bn. Secured lending grew by £9.0bn in the month. Consumer credit lending grew by £0.8bn. There was hardly any growth in credit card lending
in June most of the increase was in other loans and advances.
Average household debt in the
UK
is approximately £8,569 (excluding mortgages) and £49,696 including mortgages.
Average owed by every
UK
adult is approximately £26,334 (including mortgages). This grew by ~ £200 last month.
Average consumer borrowing via credit cards, motor and retail finance deals, overdrafts and unsecured personal loans has risen to £4,540 per average
UK
adult at the end of June 2006.
Britain
's personal debt is increasing by ~ £1 million every four minutes.

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who would have thought we'd be in this position just 5 years ago ?

the country has been wasted.

i reckon 31 dec it will hit 1400 or just under looking at the bar chart

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who would have thought we'd be in this position just 5 years ago ?

the country has been wasted.

I cannot see how debt can increase at 10.3% a year without causing problems sooner or later.

It does not seem that long ago when i was amazed when we went through the £1Trillion mark and that was front page news .

It is out of control like a runaway train.

The Governor of the Bank Of England needs to explain himself for allowing this to happen.

This is very serious.

Edited by Loanshark

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its more serious than that.

in todays world there is no buck stop.

nothing and no one is answerable. the BOE guy will simply retire with the loot.

in todays uk climate. id do the same.

weve really spent a lot of money like fat greedy spoiled kids and have nothing to show for it but socail divisions and low birth rates. were about to be asked to pay it back, and all people are trying to do is pass the debt on to some other idiot to pay, while lying about whats really going on. if they can pull it off its a cause for celebration in todays neghbourly ways..

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Guest mattsta1964

I have produced a Balance Sheet for Britain (on GEI):

ASSETS ......... at 12/2005:

Property.......... £ 3,575bn : 59.5 %

Other.............. £ 2,437bn : 40.5 %

Total Assets..... £ 6,012bn : 100 %

LIABILITIES

Mortgage Debt. £ 0,960bn : 1015.9 - 5.5%

Other Debt...... £ 0,204bn : credit cards, etc.

= = = = = ..... ======

Personal Debt.. £ 1,164bn : 1228.0 - 5.2%

Corporate Debt £ x,xxxbn

Equity.............. ? ? ? ?

Note: so Property is geared at: £ 0,960bn / £ 3,575bn : 26.9%

Using Ave.Prices of £165K, then the average Debt is.. : £ 44,385, rising at £4,882 p.a

... And if Property prices are rising at 5% pa, that's ... : £ 8,250

- An illusion of wealth, since property rises faster than debt,

BUT this is truly scary since, maybe 10% of the housing stock is bought and sold each year,

but the average debt is calculated on 100% of property, so the rise in debt, is a huge percentage of the value of houses bought every year.

...MORE: http://www.greenenergyinvestors.com/index.php?showtopic=705

Fiscal armageddon here we come. Well done Gordon!

Gordon's epitaph will be

I, Gordon 'Fiscal Prudence' Brown, bankrupted Britain

What a legacy!

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Congratulations Gordon on your "Miracle Economy"

:lol::lol::lol:

http://news.bbc.co.uk/1/hi/business/5240928.stm

Debt defaults knock Barclaycard
Barclays has reported a 37% rise in half-yearly profits to £3.6bn but rising provisions for bad debts has knocked its credit card business.
Profits at Barclaycard dropped 14% to £297m as overall charges relating to the
writing-off of debts rose by 30%
.
Edited by Realistbear

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Another statistic in that report:

The average UK weekly pocket money for 7 – 16 year olds is £8.20 (£9.76 for 12 to 16 year olds, compared to £6.30 for seven to 11 year olds).

Jesus tapdancing christ, I remember getting a quid a week when I was sixteen (1991).

Edited by The Colour

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I thought you'd like this info:

The average APR on unsecured loans has risen from 15.5% in June, to 15.72% in August.

The average APR in mortgages is 5.29% in June (Latest info), up from 5.27% sometime before June.

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The sad thing is those of us who've been sensible with money just get shafted because it seems everything is being done to try and bale out the overborrowed.

There's nothing you can do except potentially wait forever for change or join the masses.

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Personal Debt now stands at £1,228,000,000,000.00

Watch out you don't go wearing away your "0" button, there, Jason. :P

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Guest Alright Jack

We should get some t-shirts with

"You owe HOW MUCH" and wear them with pride.

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Do you have any IV shares Ozz ?

Not at the moment. I have owned some and made money out of them, though I could've made more.

was going to buy some today, after one company dipped, but its risen again. Most of my money

is now in ISAs and 1 year savings so I haven't got much spare available cash to touch since buying a car last week.

Edit: Still keeping an keen eye on Cleardebt as they are extremely cheap, until their marketting/EPS improves

I'll keep on watching.

Edited by OzzMosiz

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Half the population (52%) could survive financially for just 17 days, should they suffer an unexpected loss of income, according to research by Combined Insurance.

maybe people need a basic exam in finance...?

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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