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Credit Action: British public continues to suffer from debt problems
Brits appear to be struggling with debt issues, according to new figures revealing that Citizens Advice deals with 9,072 new problems every working day.
According to Credit Action's statistics for August, the average household debt - including mortgages - comes to £55,803, while the average amount owed by every adult in the UK including mortgages is £29,536.
Furthermore, 1,578 people are made redundant each day, while 807,000 adults have been out of work for over 12 months and a property is repossessed every 14 minutes.
Associate director with Credit Action Joanna Parsley noted that the results show a "mixed picture", since the number of those unemployed for over a year has continued to drop, decreasing by another 22,000 on July.
Credit Action figures for July revealed, however, that 1,271 people were made redundant each day, lower than those facing such uncertainty in August. The average household debt has fallen, meanwhile, down from July's figure of £55,862.
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According to Credit Action's statistics for August, the average household debt - including mortgages - comes to £55,803, while the average amount owed by every adult in the UK including mortgages is £29,536.
Furthermore, 1,578 people are made redundant each day, while 807,000 adults have been out of work for over 12 months and a property is repossessed every 14 minutes.
Associate director with Credit Action Joanna Parsley noted that the results show a "mixed picture", since the number of those unemployed for over a year has continued to drop, decreasing by another 22,000 on July.
Credit Action figures for July revealed, however, that 1,271 people were made redundant each day, lower than those facing such uncertainty in August. The average household debt has fallen, meanwhile, down from July's figure of £55,862.
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Published: 02/08/2011
The information in this article was correct at the time of publication and contains time sensitive data and links, it may not be accurate at the time of reading.