Figures reveal personal debt is on the rise with individuals owing almost as much as the entire country produced last year. The statistics from debt advice charity Credit Action reveal personal debt stood at £1.460trn at the end of May 2012 up slightly from £1.451trn at the end of May 2011. Over the four quarters to Q1 of 2012 banks and building societies also wrote-off £6.3bn of loans to individuals. In Q1 2012 itself they wrote-off £1.28bn, of which £568m was credit card debt, amounting to a daily write-off of just over £14m. However, outstanding unsecured, consumer credit, lending stood at £208bn at the end of May 2012, which is down from £210bn at the end of May 2011.....Read more here