Oldham has one of the highest debt levels in England, according to new report.

Oldham has ranked sixteenth in a new UK wide survey, with an average debt level of £18,091.

Drawing on a dataset of nearly 300,000 insolvent consumers currently struggling with their personal finances, Aryza’s new UK Debt Statistics report found that Preston has the highest level of average personal debt in England, standing at £19,473. 

This is the second in a series of regular reports, designed to provide updates on the state of the nation’s finances and ensure the industry is taking action to support consumers.

The same study found that in Q3 of 2021, the average debt level across the UK stood at £17,823. This is compared to £15,924 in Q1, an increase of +11.93%.

The vast majority of the locations in the top 20 debt levels are found in the Midlands or North England.  Luton and Harrow are the only locations in the South of England.

1. Preston - £19,473

2. Cleveland / Teeside - £19,345

3. Halifax - £19,245

4. Wakefield - £19,117

5. Darlington - £18,966

6. Derby - £18,919

7. Bradford - £18,832

8. Northampton - £18,694

9. Bolton - £18,486

10. Warrington - £18,474

11. Newcastle upon Tyne - £18,437

12. Luton - £18,393

13. Hull - £18,175

14. York - £18,144

15. Crewe - £18,139

16. Oldham - £18,091

17. Sunderland - £18,057

18. Liverpool - £18,047

19. Harrow - £18,035

20. Sheffield - £17,976

 

Currently, men across the UK have an average debt of £19,650 and women have an average debt of £16,287.

1 in 5 individuals were found to be struggling to manage their energy and utility bills.  

The report also shows an increase in debt across the younger age brackets, with those aged 30-39 experiencing an increase of +16.32%. Those aged 60 - 69 continue to have the highest level of average debt per person across the UK, standing at £20,644.

Colin Brown, CEO at Aryza, said: “England is facing an incredibly difficult time, and many people are clearly struggling to manage their finances as the cost of living continues to rise.

"While many were able to take advantage of the Government’s support schemes, such as the job retention scheme, payment breaks or mortgage holidays, the end of these initiatives has contributed to debt levels rising once again.

“Soaring utility bill prices and uncertainty in the job market have also played their part in creating an extremely challenging financial environment.”

Aryza specialises in debt and insolvency software to help consumers manage their personal finances.

For further information about Aryza or to view the full report, visit www.aryza.com/uk-debt-statistic-report-download-oct-21/.

 

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