UK consumers faced a combined personal debt of £1,463 billion in January of this year, according to new figures.
Statistics published by Credit Action have suggested that this represented a 0.8 per cent 12-month increase.
When it comes to the issue of credit card debt, a statement from the organisation has revealed that consumers making use of "credit cards, motor and retail finance deals, overdrafts and unsecured personal loans" had borrowed an average of £4,667 each by the close of the month.
Meanwhile, the organisation believes that the month saw the overall level of consumer credit lending reach a sum of £225 billion.
However, one expert has recently suggested that it may be proving hard for some consumers on lower levels of income to get credit at the present time.
Paul A Jones, senior researcher at the Research Unit for Financial Inclusion at Liverpool John Moores University, made his remarks during the Northern Money Conference earlier this month.
Posted by Martin Peacock.
