UK Debt Worry Index 2008
Background
ReallyWorried About Debt has commissioned research, the UK Debt Worry Index 2008, on those who
already have debt worries, possibly the largest survey on UK debt. The research gives a graphic,
alarming picture of the state of debt in the UK, for example, 31% of people are highly unlikely to
ever be able pay their debt off and that having children increases debt by a quarter.
UK Debt Worry Index reveals nation's top debtors in 2008
One of the largest debt surveys ever in the UK, over 9,500 people participating:
- Average unsecured debt, amongst those surveyed, has risen by £3,150 over three years, from £23,553 in 2005 to £26,644 in 2008.
- People in the Orkney Isles owe the least at £4,188. City of London (and London EC) residents owe the most at £41,002.
- The average male respondent borrowed 37% more than his annual take home pay.
- The most indebted respondents are men over 45 and living in the South West at £46,294.
- Participants with children owe £7,029, almost a quarter more than childless couples, and singletons.
- Across the ages and regions the respondents who need the largest increase percentage in their income to cover their debt are men over the age of 45 who owe 177% of annual take home pay. Female respondents under the age of 25 owe the least amount of debt in proportion to their take home income, at 76%.
- 31% owed more than 150% of their annual take home pay: meaning they are likely to find it almost impossible to pay back.
Download the full UK Debt Worry Index 2008