Beat Debt Guide
Don't Delay, Start Today
Average Owed by Every UK Adult is £30,258
The average owed by every UK adult, four years ago, was approximately £25,545 (including mortgages). Today that figure stands at £30,258 (including mortgages).
Does that figure seem low to you? Or does it seem high? Your own personal debt may sway your opinion but remember that this is the average and many older people will no longer have mortgages etc because they will have paid them off over their working life. Which mean that a lot of people will owe far more than the average.
Credit Action have some striking statistics. Two which stand out are every 11.4 minutes a property is repossessed and every 3.69 minutes someone will be declared insolvent or bankrupt.
Don’t be a part of the depressing debt statistics and take control of your debts today. You too can BEAT DEBT!
New Government – New Policies
We now have a new Government which will have to tackle the national debt problem quickly to stop us getting to a point like what has happened in Greece.
£84,880,000 is the interest the Government has to pay each day on the UKs net debt of £857.5billion. This is projected to rise to £114m a day in this 2010-2011 financial year. (Source: Credit Action)
Is this going to hurt? Yes. Some people may get away without too much impact but other will definetly feel the pain.
Those individuals that have reduced their personal debts like I’ve been suggesting over the last few years should be better placed than those that haven’t. If you lose your job it will be tough and with a continual rise in unemployment figures this could be a possibility. If you haven’t yet started to tackle your debts start today because over the coming weeks and months it’s going to get tougher before it gets better.