Debt is an issue which affects all areas of society from those who are unemployed to individuals with well above average earnings. According to a survey carried out in January 2002, the average debt per person in Britain is now £11,830.

The total in personal debt for the country rose to £720bn. Figures released in 2003 show that the level of unsecured consumer debt in Britain has risen from £70bn in 1995 to reach £140bn in 2002. Notably, the interest rates charged on these debts has failed to decrease in line with the fall in base interest rates over the same period.

Negative equity may be something we hear little of these days, but in 2000 there were almost 23,000 homes repossessed by mortgage companies from individuals who were unable to keep up their repayments.