UK Business

Bankruptcy is spiking among UK borrowers – but there are debt relief options if you are struggling financially

Written by Alper Kara, Professor of Banking and Finance, Brunel University London

UK households have one of the highest debt levels in the world. Steadily increasing in the last two decades, the average total debt per household (including mortgages) is £65,619 as of August 2023. This is £34,644 per adult, or around 103.5% of average earnings.

As indebtedness has steadily increased over the...

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