Total UK personal debt at the end of February 2011 stood at £1,454 billion, according to latest statistics compiled by Credit Action.
The 12-month growth rate remained unchanged at 0.7%. Individuals currently owe more than the entire country produced during the whole of 2010.
Total lending in February 2011 rose by £2.0 billion secured lending increased by £1.2 billion in the month consumer credit lending increased by £0.8 billion (total lending in Jan 2008 grew by £8.4 billion).
Total secured lending on dwellings at the end of February 2011 stood at £1,242 billion. The 12-month growth rate remained unchanged at 0.7%.
Total consumer credit lending to individuals at the end of February 2011 was £212 billion. The annual growth rate of consumer credit rose 0.3 percentage points to 1.1%.
UK banks and building societies wrote off £9.7 billion of loans to individuals in the four quarters to end Q4 2010. In Q4 2010 they wrote off £2.27 billion. This amounts to a write-off of £24.88 million a day.
Average household debt in the UK is around £57,697, including mortgages.
