Everyone seems to be struggling with debt levels and new research shows where in Britain the highest average amounts of unsecured debt lies. Information published by the Mail on Sunday shows that the South-East is the top indebted region, and those who have sought some form of debt advice have almost £27,000 worth of unsecured debt.
Residents of London are facing the highest levels of debt as the average borrower owes over £41,000, according to this research. Those who are closest to being debt free are residents of Orkney who owe just over £4,000.
The Top 5 most indebted places, with details about average debt levels are:
1: City of London – £41,002
2: Salisbury, Wiltshire – £39,474
3: Isle of Man – £36,538
4: Dorchester, Dorset – £35,939
5: Manchester – £32,932
It is likely that people living in the City are racking up high levels of debt as they are on higher incomes and thought that they could manage. However the lack of disposable income due to the credit crunch and rising costs of living means that more and more people are facing debt problems.
Are you Struggling with Debt?
If you think that your financial situation wouldn’t look out of place on the debt map, then maybe it is time that you took some debt advice. We can offer you debt advice and information so, no matter what your level of debt, we are confident that we can find a debt solution which is right for your financial circumstances.