THE average level of debt held by Worcester residents increased by more than 35 per cent in the last financial quarter, new data has revealed.

The latest UK Personal Debt Index (PDI) figures report that the average unsecured debt of individuals in Worcester had a quarter-on-quarter increase of 35.7 per cent, to £21,970, making it one of the largest regional swings in the UK.

This is in comparison to the national average, where debt levels across Quarter 3 increased by 1.67 per cent.

The PDI is compiled quarterly by Creditfix, following a survey of over 60,000 individuals across the country.

Unsecured debt refers to any debt that is not protected by a guarantor or asset - includes bank loans, credit cards and payday loans.

“It’s troubling to see that so many people are continuing to struggle with their personal finances,” commented Pearse Flynn, executive chairman of the Creditfix Group.

“People are having to borrow more, often just to make-ends-meet.

"The ease, availability and widespread access to credit from banks and credit card companies is only facilitating this cycle."

With so many people relying on debt, we could be headed for troubling times if the UK economy struggles and lending is reeled in.

“The summer months can be a very expensive time for many people, with children out of school, lots of parents will have had to pay for additional childcare."

"There are also vacations and family trips to pay for, so seeing some people’s personal debt levels increase is not a huge surprise.”