Britons have about £1,000 more in outstanding debts than they did a year ago, Tesco Bank says.
The average balance has now hit £5,400, rising as high as £6,500 for those aged 35 to 54 - an increase of 31 per cent compared with last year's £4,928.
Borrowers aged 55 and over also now owe £4,812 on average - up from £4,327 12 months ago.The East Midlands is the debt capital of the UK, with people owing £8,000 on average, ahead of Yorkshire and the Humber (£5,802) and London (£5,755).
Burden: The average debt balance has now hit £5,400, rising as high as £6,500 for those aged 35 to 54 - an increase of 31% compared with last year's £4,928
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HOW THIS IS MONEY CAN HELPWhat you need to know about money every week: This is Money podcastUnsecured borrowing includes credit card debts, overdrafts and payday loans (http://esmartoffers.com/osclass/index.php?page=user&action=pub_profile&id=48465).Mamta Shanbhag, borrow director at Tesco Bank, says: ‘Addressing money concerns now is the best way to put your best financial foot forward for 2025.'
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