Over recent years the level of personal debt that has been accrued by consumers in the UK has caused a great deal of concern, and for many individuals the debt problems have become increasingly worse as a result of the financial turbulence of the past couple of years. New figures that have been released have shown that personal debt levels in the UK have continued to increase.

The report has been released by the debt charity Credit Action, and the figures on the report have shown that personal debt levels have continued to increase. The twelve month growth to the end of April this year was 0.8 percent, and the total amount of personal debt came in at £1460 billion. In April of this year total lending is said to have increased by £0.4 billion.

In a breakdown of lending figures the Credit Action report showed that secured lending for the month had increased by £0.5 billion whereas consumer credit lending had fallen by £0.1 billion. The average level of debt per household in the UK is close to £9000, and this does not include their mortgage or secured debts. With mortgage debt included the level of debt per household comes in at close to £58,000.

Over the past couple of years many consumers have been in a catch 22 situation where they have been unable to get affordable finance due to restrictions put in place by lenders but at the same time have needed access to finance in order to fund their day to day lives in some cases due to problems caused by the financial crisis and job losses.

For many this resulted in them turning to their overdrafts, credit cards, and even doorstep lenders in order to get the money that they needed for essential purchases and bill payments.

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