Statistics released by money advice charity Credit Action reveal that total UK personal debt increased 0.7 per cent in the 12 months up to the end of November 2009 to £1.46trn. However, bucking the long-term trend, consumer credit lending actually fell by a net £400m during the month of November as banks continued to tighten their belts.
Secured lending continued to grow, up £1.5bn and the charity estimates that the average household debt including mortgages in the UK is now £57,888.