Level of unsecured debt
Total unsecured debt by age-group
Figure 4.1 shows, as we’d expect, that level of debt increases in line with age. This trend is most likely the result of increasing opportunity to accumulate debt. The 45-54 age group have the highest level of debt with £33,689 on average. The 16-24 age group has the lowest level of debt on average with £7,242 owed.
Total unsecured debt by region
Figure 4.2 reveals South West (£37,368) and South East (£35,073) to have the highest average debt levels (25% and 18% higher than average respectively), whilst Northern Ireland (£23,785) and West Midlands (£23,397) have the lowest.