Average indebted British adult owes over £5,500 – R3
- Equivalent to almost 12 weeks’ average wages
- 4% of British adults owe over £20,000
The average in-debt British adult* owes £5,534 to their creditors (excluding mortgages and student loans), according to research by insolvency trade body R3.
This figure is equivalent to almost 12 weeks’ average weekly earnings for a UK worker (£481 per week) and seven months’ average rent in England & Wales (£770 per month).
The R3/ComRes poll of 2,000 British adults also found that 4% of British adults owe over £20,000, excluding mortgages and student loans.
*58% of British adults say they have debts (excluding mortgages and student loans)
