Personal debt in the UK nearly £1500 billion
07/01/2010A thousand people are seeking some form of formal debt rescheduling every working day, as the amount of money owed by households in Britain stands at £1,459 billion.
That's a slight rise of 0.7 per cent on the year before.
New figures released by the charity Credit Action show the average family now owes £57,888 including mortgages, at a cost of more than £2,600 in interest payments each year.
But there is some positive news, as while the average household debt will rise by 13p today, at this time last year it increased by more than £11 every day.
Kevin Still from debt management experts, Atlantic, is not surprised by these latest figures and encourages families struggling to manage their debts to ask for help as quickly as possible.
He says there is a tempation for people to bury their head in the sand when the bills start piling up - but the sooner they ask for help, the better.
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