Although the UK has a good standard of living, there is massive personal debt problem.
The current total of personal debt in the UK(04/07) is very close to£1.2 trillion.
Personal debt is rising in the UK at the rate of £1 million every four minutes.
£56 billion of the above is credit card debt and 14 million adults in the UK are reliant on their overdrafts at the end of the month.
There are two million households living very close to financial ruin and 3.5 million people are overdrawn permanently.
Two million people in employment begin the month overdrawn, even after they have been paid.
Single people are more likely to be in debt than married couples.
