which city do you reckon has the highest average debt?

Willsnarf1983

i would guess London purely because its the high fast moving life and people want things there and then?

any other ideas?

Will

oops_a_daisy

well you cant include poor Middlesbrough in this one as it isnt a city :rotfl:

I would go for London too - do you know the answer

arthurdick

it cant be london, i have moved outta there now and i owed loads;)..really though, yep i think it would be around that area, it would be interesting to find out....but, maybe it would be due to the higer house prices = higher mortgages - higher debt.......and like you say, the faster living;) the more clubbing and shopping, but wether on credit or they already rich enuff gawd knows

arthurdick

Last Updated: Tuesday, 23 October 2007, 10:36 GMT 11:36 UK
E-mail this to a friend Printable version
City 'worst debt outside London'

Consumer spending is expected to fall next year

Residents of Liverpool have the biggest debts of anywhere in Britain outside London, according to a new report.
It found that although areas of Greater London rack-up the highest debts, Liverpool follows closely behind.
The research suggests there is a "borrowing boom" with people relying on credit rather than savings.
Mark Ward, head of consumer services at Callcredit, the credit agency who ordered the survey, said this was due to a "buy now, pay later" attitude.
Mr Ward said: "There's a lot of debate at the moment about whose fault it is that there's all this unsecured debt - people are blaming the banks.
"But really it's up to the consumer in our opinion - they have to take charge of their credit.
"It's very easy to run up those bills and think 'oh well I'll just get another credit card' and eventually you end up in a very damaging downward spiral." Spending shock The average household debt in the UK is £56,309, or about £28,707 per person

arthurdick

i had to check, it had me wondering

oops_a_daisy

Does that average include mortgage debt I think it must as that average debt per person is really high :eek:

ZTD

But does that include mortgages? London will always be the worst because of the exceedingly stupid houseprices there.

arthurdick

gawd knows i would think it would be much higher with the mortgage added . especially in london......

Gemmzie

That's without mortgage because I've heard those figures (The average household debt in the UK is £56,309, or about £28,707 per person) quoted before. Scary.

ZTD

Must be with mortgages. 60,000,000 people at approx £29K a pop works out about £1.7 trillion.

Which is still high... :think:

ZTD

Well, census 2001 reckons there are 24,479,439 households in the UK - at £56,309 a pop that's £1.38T which is definately more like it.

They must have been using an old population figure.

Has anyone else noticed that when the government give a "debt per person" figure, they also include under 18's who can't get credit.

I guess it makes the numbers look smaller.