New data reveals Essex has the highest average debt in the UK
Written by Chelsea Potter on 7 April 2016
PayPlan have revealed new debt figures to show the top 10 counties in the UK with the highest average debt figures and Essex was revealed to have the highest debt level.
According to the data 1212 people from the area used our service throughout 2015 with their average debt coming to £18,508.
The other areas in the UK found to have the highest debt levels were:
- Essex: £18,508
- Cambridge: £18,463
- Belfast: £17,114
- Cardiff: £17,082
- Glasgow: £16,841
- Newcastle: £16,744
- Bristol: £16,671
- London: £16,574
- Edinburgh: £16,560
- Birmingham: £16,464
These statistics were released alongside our new debt barometer tool designed to help people struggling with debt issues determine the best course of action to proceed with.
Jane Clack, our very own money advice consultant, commented on the data and the launch of the tool.
“Although these results show that the UK still has a problem with debt, more and more people are taking the brave and important step of facing up to the issue and seeking professional help.
Our debt barometer tool is for anybody who is seeking the best course of action to help them tackle their debt bill, no matter how large or small. Living with debt is a problem a large percentage of us face, but we want to spread the message that there is help out there.”
Diagnose Your Debt was created to help raise awareness of debt levels and make people aware that help is available. Our new debt tool asks a series of questions about your lifestyle and spending so you can pinpoint how well your are managing your finances. The questions are based on the most common debt warning signs and some of our users have found them eye opening.
One of the bloggers who took our test said although her finances were in control and she was managing fine, our test made her realise if she lost her job tomorrow, she would find herself in a bit of a rut. We want to help reduce debt levels and we believe Diagnose Your Debt will help make people more aware of their finances.
Filed under Industry News