Debt worry hits at £10,000

The typical Briton has racked up more than £8,400 of unsecured debt, but the majority of people would not worry about their debts until they owed nearly £10,000, a new survey suggests.

The average person now owes 8,431 on credit cards, loans and overdrafts, although they say they would not become concerned until this figure had ballooned to 9,800, according to financial website moneysupermarket.com.

And most people would wait until borrowings had more than doubled to 19,478 before seeking paid advice. Men owe more than women, at an average of 9,403, compared with 7,593.