93 properties repossessed per day
Every day there are 93 properties repossessed and 299 people are declared as insolvent or bankrupt, according to figures from Credit Action, the national money education charity. Credit Action has produced figures that estimate every day: 1,170 Consumer County Court Judgements (CCJs) are issued with an average value of £3,217. 164 mortgage possession claims are issued and 127 mortgage possession orders are made.
It is estimated that 26.8m plastic card purchase transactions are made with a total value of £1.289 billion. 8.6m cash withdrawals are made with a total value of £338m. Credit Action also says that the UK population grows by an estimated 1,342 people.
Michelle Highman, CEO of Credit Action, says:
"People in the UK are having a tough time of it at the moment, as our latest Debt Statistics show. For example, they suggest that on average one person becomes insolvent every 4 minutes 49 seconds - to put this figure in context, it means that in the time it took Mo Farah to win an Olympic Gold Medal in the 5,000m, nearly 3 people went insolvent."
September 7, 2012
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