- The average personal debt level of people struggling with their finances in Q1 2021 is £15,924.
- Those aged 60 – 69 had the highest level of average debt per person, standing at £21,975.
- Men on average hold more debt than women.
- The Western Isles in Scotland has the highest level of average personal debt at £31,454.
- In England, Cleveland in Yorkshire has the highest level of average personal debt at £18,547.
Aryza, the market leading personal insolvency, lending and debt solutions software provider, today announced the launch of a new report, providing an overview of the nation’s personal finances.
Drawing on their dataset of over 50,000 UK consumers currently struggling with their personal finances, the UK Debt Statistics report will provide an overview of the nation’s personal finances as we emerge from the worst of the COVID-19 pandemic and society begins to reopen.
The Aryza survey revealed that The Western Isles in Scotland has the highest level of average personal debt, standing at £31,454. In England, Cleveland in Yorkshire had the highest, with a debt figure of £18,547.
Currently, men have an average debt of £17,323 and women have an average debt of £14,712.
Those aged 60 – 69 have the highest level of average debt per person across the UK, standing at £21,975, closely followed by the over 70s, who have an average debt level of £20,785.
Martin Prigent, Aryza UK, said:
“It goes without saying that the UK is facing its most difficult time in decades, and many are struggling to manage their finances for the first time in their life. While many have been able to take advantage of the Government’s support schemes, such as the job retention scheme, payment breaks or mortgage holidays, as these initiatives come to an end we may see debt levels rise.
“This UK wide report is the first in a series of regular reports, designed to provide updates on the state of the nation’s finances and ensure the industry is taking action to support consumers.”
Aryza specialise in debt and insolvency software to help consumers manage their personal finances.