http://www.londonspovertyprofile.org.uk/indicators/ Latest updates to Debt en Copyright 2013 Mon, 04 Oct 2010 13:09:57 +0000 http://www.sixapart.com/movabletype/ http://www.rssboard.org/rss-specification

There has been an increase in the number of people seeking advice on debt-related issues.

Debt advice agencies report a change in the profile of people seeking their help with debt.

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The proportion of households in arrears with their bills is higher in London than in any other English region.

The proportion of households in London who are more than £500 in arrears with bills is higher than any other region.

Workless households are far more likely to have trouble paying bills than working households.

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London differs very little from the English average either in the proportion of households that have unsecured debt or the amount of debt they have.

On average, households in debt each owe around £2,800.

The most common type of debt is credit card debt, which is held by around 30% of households in London.

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In 2008, levels of unsecured debt in London were similar to those elsewhere in the country. Around 50% of London's households have unsecured loans, and, among these households, the total amounts borrowed are equivalent to an average of 15% of annual income.

In 2008, a higher proportion of households in London were in arrears with their bills than in any other region in England - 8% of households (230,000 households) are behind with at least one bill, half of them owing more than £500.

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