How personal debt grew to £1.4 trillion | This is Money
Britons now face personal debts of £1.45trillion, according to figures published today - more than the entire national output of the economy over the past year.
Total lending rose by £1.5bn in January, leaving the average UK household £57,635 in the red, according to figures from personal debt charity Credit Action.
Individuals now owe more than the entire country managed to produce in the year from the final quarter of 2009.
While overall lending, which includes mortgages, rose in January taking total debt to £1,452bn, the amount owed on credit cards and personal loans actually fell marginally, by £300m. During January 2008, by comparison, loan and credit card lending grew by £8.4bn.
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