Eliminate debt

UK personal debt 'hit £1.464bn last month'

31-03-10, 03:54 in Eliminate debt
UK personal debt 'hit £1.464bn last month'
Last month saw overall personal debt reach a level of £1.464 billion in the UK, according to new statistics.

Research published by Credit Action has revealed that this figure rose by 0.9 per cent between February 2009 and the same month of this year.

Meanwhile, the organisation has also published figures relating specifically to credit card debt.

The close of last month saw an average borrowing figure of £4,658 for those making use of the likes of credit cards and overdrafts, it believes.

Overall, consumer credit lending is said to have hit £225 billion in the four-week period covered by the Credit Action figures.

Meanwhile, a spokesperson for the Consumer Credit Counselling Service has also recently highlighted some of the financial problems that may cause debt problems for people in the coming months.

Rises in the country's interest rates could prove difficult for some UK consumers, he stated.

Posted by Martin Peacock.ADNFCR-2660-ID-19699251-ADNFCR

Apply now for a Vanquis Visa Card

We’ve already helped over 800,000 people like you feel in control

  • Choose your card design: Blueberry, Lime or Cherry
  • 24/7 Fraud Watch
  • A UK Customer Service Centre
Find out more Apply now
typical 39.9% APR variable based on a typical credit limit of £250
Apply now for your Blueberry, Cherry or Lime Vanquis Credit Card