Straightalkdebt: debt

Tuesday, 11 November 2014

The Money Statistics - November 2014- Debt Management

The latest money management statistics have now been published by The Money Charity, which was known as Credit Action until October 2013, and is the UK’s financial capability charity.

These figures have been being produced since 2005 and have previously been called the debt statistics. But have now been renamed to encompass a wider range of how we spend money in the UK.

The key figures for November 2014 can be seen below.
• £55,223: average household debt (including mortgages) in September, up from £55,083 in August
• 270: Number of insolvencies every day
• £1,185: average amount paid in interest on debt per person annually
• 210,000: average house price paid by first-time buyers
• 1,033: number of people who became redundant every day between June and August
• £2,214: average household credit card debt
• 0.7%: estimated growth of the UK economy in Q3 2014
• £90m: daily increase in net lending to individuals
• 1,474: drop in unemployed people per day
• 17.8bn: gross mortgage lending in September 2014

If you know any businesses or individuals that are struggling with debt recommend they visit our website to see how we have helped similar people, we are happy to provide a free initial consultation with our obligation.

There is Life after Debt!

Source: http://themoneycharity.org.uk/money-statistics

Straightalkdebt

Find us on Google

Tuesday, 4 November 2014

UK Faces ‘Debt Timebomb’ from Ageing Population

Institute of Economic Affairs calls for radical measures, including a smaller NHS, to bring Britain’s debt mountain back to sustainable levels.

Britain’s ageing population has created a “debt timebomb” that can only be defused, according to a respected think-tank, through a combination of significant spending cuts, faster increases in the state pension age and ending universal free healthcare.

The institute of Economic Affairs warned that the government would need to cut public spending by at least 25pc in order to get Britain’s debt down to sustainable levels.

In a set of radical proposals, the Institute of Economic Affairs called on the Government to end “unhelpful” policies such as the “triple lock guarantee” that ensures the state pension increases by the higher of inflation, average earnings or a minimum of 2.5pc every year.