The latest debt statistics from Credit Action

Credit Action has released debt statistics for August, and although outstanding personal debt is up, it’s not all bad news as unemployment figures are down.

The August installment of debt stats include:

  • £5,986: average household debt (excluding mortgages) in June, up from £5,978 in May
  • £164 million of interest was paid every day on personal debt in June
  • £1.421 billion: daily value of all plastic card purchases in May
  • 915,000 people had been unemployed for over a year between March and May
  • Every 5 minutes 7 seconds someone was declared bankrupt or insolvent during Q2 2013
  • £1.425 trillion was the value of outstanding personal debt at the end of June, up from the same period last year

For more details, go to: www.creditaction.org.uk