Identifying Exact Debt Levels
Many people might not be able to give an exact figure of what they owe much like no-one can give an exact figure of what the global debt total is. This is sometimes one of the problems that face people in debt; not knowing the extent of their deficit.
The £29 trillion is made up of individual country’s debts. Of these America (more than £7.3 trillion), Japan (more than £6.8 trillion), Italy and Germany (more than £2.3 trillion) and France (more than £2.2 trillion) are the key contributors.
The UK has an estimated debt level of more than £1.2 trillion. The average debt levels per person per region based on Debt Free Directs customers varies. For instance, in London the average is £22,625.61 but in the north east it is at £33,591.81.
The overall average debt level in England is £27,871.13 which equates to roughly 0.000000095% of the global debt level.
However, to coin a popular turn of phrase, it is all relative. Everyone’s individual debt level is important to them. Working this out and how to manage it is a first step to improving it. Debt Free Direct deal with each case individually to find the best solution.