Average household debt on the up as rate of repossessions rise

Today financial capability charity Credit Action releases its Debt Statistics, giving an overview of the financial situation in the UK. The latest figures suggest that debt levels remain stubborn, with some households finding it increasingly difficult to get by.

Headline figures:

1. £53,995: average household debt (including mortgages) in March up from £53,994 in February

2. £5,980: average household debt (excluding mortgages) in March up from £5,978 in February

3. £164 million of interest was paid every day on personal debt in March

4. £1.585 billion: the daily value of all plastic card purchases in February

5. 1,501 people were made redundant every day between December and February

6. 900,000 people had been unemployed for more than a year between December and February

7. Every 5 minutes 15 seconds someone was declared bankrupt or insolvent during Q1 2013

8. Every 16 minutes 26 seconds a property was repossessed during Q1 2013

9. It cost £68.45 to fill a 50 litre tank with unleaded petrol in April

10. The Government borrowed an estimated £5,638 every second during March