The UK Debt Problem  >  Causes of Debt Problems >  Frequently Asked Questions  > Typical Stories >  Practical Solutions...

 

  

 

---

Introduction - In this introductory section, we have put together facts, figures and information about debt and personal bankruptcy.  In particular, details of the main causes of personal bankruptcy in the UK, answers to questions most people in debt ask, examples of people who for no fault of their own have got into serious debt (and recovered) to lead their life in a normal way again.  There is clearly a huge demand for credit. Some of the latest personal debt figures are breaking all records.... 

• At the end of Feb 2004, total personal debt in the UK was at record levels of £956bn.

• The number of people seeking help with debt rose 12 per cent in February 2004 compared with the same month last year (source CCCS). The CCCS found that its clients had on average £25,000 in unsecured debt.

• The DTI says that in the final three months of 2003, 10,271 individuals in England and Wales became insolvent, 29% up on the same period 2002, and the highest figure since 1993, when the recession hit.

• Citizens Advice Bureaux advisers across the UK have been dealing with an alarming 47% increase in the number of new consumer credit debt problems over the last five years and 1,025,976 debt issues in 2002 / 2003.

• The amount of debt being chased by Britain's bailiffs has soared by 70% over the past two years to a record £5bn. The typical household falling into difficulty owes £25,000. 20 million cases have been passed to debt collectors over the past year.   Next Page >>>

 

SITEMAP

about | bankruptcy | debt process | Consolidation Loan | Debt Solutions | debt eliminate | forecasting tool | debt causes | CCJ | debt consolidation | debt counseling | elimination | counseling helpdebtfree living | debt management | Repayment Plans uk | reduction | debt negotiation | stories | information | bankruptcy |budgeting | IVA | insolvency | law forms | debt process | home savings | Personal Debtstudent loanS | Adverse Credit Loans  |   Credit Cards Debt Advice  |   Debt Consolidation   |   Debt Solutions   |  General  |    Debt Help  |    Loan Consolidation