2. Personal debt levels are rising
For the first time in at least eight years the overall average unsecured debt of our clients increased, from £13,900 to £14,251.
In addition to unsecured credit commitments, four in ten people are behind on their household bills. This is an increase of 5% over the last five years. On top of their unsecured debts this amounts to an additional average debt burden of £2,061 for these clients.