Debts are spiralling out of control for a record number of Britons, with bailiffs chasing a staggering 20 million cases of missed repayments a year. More than 6 million households are in debt owing an average of £25,000 spread accross 15 creditors – and that does not include home loans.

The figure compares with having debts of around £10,000 owed to 5 or 6 creditors 3 years ago. Borrowers falling behind on payments are contributing to a debt payment deficit of £60billion – the equivalent of £2,000 a household. Bailiffs are chasing around £5billion of that sum.

(Daily Express 15th Oct 2003)