Thurs, 6 th sep 2007

Total personal debt in the UK - including borrowing on things like credit cards and mortgages - rose to £1.355 trillion in July.

According to figures published by charity Credit Action, debt in the UK has increased by 10.1 per cent in the last 12 months.

In July, total consumer credit lending to individuals jumped to £214 billion, 5.3 per cent more than a year ago.

This means that, excluding mortgages, the typical household in the UK now owes £8,856.

On average, a British adult has borrowed £4,515 with things like cards, motor and retail finance deals, overdrafts and unsecured personal loans.

Recently, James Falla, managing director of debt consultancy Thomas Charles, said that it was important that people in debt sought advice as soon as possible.

"Ultimately, if you are in a debt problem then you are going to have to make some difficult decisions, but it's always good to do that with somebody you feel comfortable with," he explained.

Source: - http://www.moneyhighstreet.com/news/18264886+
UK+personal+debt+continues+to+rise/