Unsecured debt hits new peak of £15,400 per household – new TUC analysis

Unsecured debt hits new peak of £15,400 per household – new TUC analysis

New analysis published by the TUC shows that household debt rose sharply over 2018, with unsecured debt (debt other than mortgages) reaching new highs:
• Unsecured debt per household rose to £15,385 in the third quarter of 2018, which is up £886 on a year earlier.
• Total unsecured debt rose to £428bn in the third quarter of 2018 – a record high, and well above the £286bn peak in 2008 ahead of the financial crisis,
• Unsecured debt as a share of household income is now 30.4% – the highest it’s ever been, and above the level it reached in 2008 ahead of the financial crisis (27.5%).

Source: TUC
GO TO ARTICLE +