Citizens Advice Dealing With Over 9000 Debt Cases Each Day

Tue, 03 Nov 2009

More than 9,300 Britons are seeking professional help in dealing with their debts each day as personal debt figures continue to rise.

Debt organisation Credit Action has revealed that total UK personal debt at the end of September 2009 stood at a staggering £1,459 billion, with the average UK household now owing £58,340 (including mortgages) and is £9,161 (excluding mortgages ).

In its latest monthly report, it added that total lending in September 2009 rose by £0.7 billion. Secured lending increased by £0.9 billion, while consumer credit lending fell by a net £0.3 billion.

According to Chris Tapp, director of the Credit Action, many people are still as dependent on their credit cards as they were in previous years.

He said: "A lot of people are reliant upon being able to borrow on their credit cards to smooth out peaks and troughs in their income and in many unfortunate situations they rely on cards simply to buy essential living costs."

The Credit Action report also showed that over 9,300 new debt cases are reported to the Citizens Advice Bureau each day, one person is declared bankrupt or insolvent every 4 minutes, and a property is repossessed inn the UK every 11 and half minutes.
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