Debt

Number of individual insolvencies was 31,000 in 2002 (having stayed about the same for a decade), then rapidly shot up to 107,000 in 2008 (and 2007 and 2006 – not about the current recession). In 2010, they reached an all-time high of 135,089. (Source: ONS) Bankruptcies have followed a similar trend.
2.5 million households (10%) are in arrears on mortgage debt, having been unable to meet payments for two months or more. (ONS)
44% of the public are more inclined to spend their money than save it, saying it would rather have a good standard of life now than provide for a comfortable retirement. (ONS)
Only 40% of men and 32% of women are paying into a private pension. (ONS)
19.3 million households, 80 of the total, have racked up an average of £7,200 each on credit cards, loans and other non-mortgage related debts. (ONS Survey of Britain’s wealth, Times 11 December 2009).