Total UK personal debt at the end of June 2011 stood at £1,451bn. The twelve-month growth rate remained unchanged at 0.8%. Individuals currently owe nearly as much as the entire country produced between Q2 2010 to Q1 2011. Total lending in June 2011 rose by £0.4bn; secured lending decreased by £0.1bn in the month; consumer credit lending increased by £0.4bn (total lending in Jan 2008 grew by £8.4bn).

Total secured lending on dwellings at the end of June 2011 stood at £1,241bn. The twelve-month growth rate remained unchanged at 0.7%.

Total consumer credit lending to individuals at the end of June 2011 was £210bn. The annual growth rate of consumer credit increased 0.3 percentage points to 1.8%. UK banks and building societies wrote off £9.5bn of loans to individuals in the 4 quarters to end Q1 2011. In Q1 2011 they wrote off £1.89bn (£866m of that was credit card debt). This amounts to a write-off of £20.71m a day.

Average household debt in the UK is ~ £8,064 (excluding mortgages). This figure increases to £15,507 if the average is based on the number of

Read more on this story: CCR Magazine - Credit Action Debt Statistics - August 2011