Survey reveals Harrogate residents in £5,000 more debt than national average

The average level of personal debt held by people in Harrogate has increased by 59 per cent in the three months leading up to Christmas, according to the latest UK Personal Debt Index (PDI).

The fourth quarter PDI reports that the average unsecured debt of individuals in Harrogate rose sharply in the previous three months, making it one of the largest regional increases in the country.

On average, individuals in Harrogate now owe £24,786 – compared to the national average of £19,996.

The PDI is compiled quarterly by Creditfix, the UK’s largest personal insolvency practice, 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; this includes bank loans, credit cards and payday loans.

Terry Sweeney, CEO of Creditfix, said it was not uncommon for people to struggle at this time of year.

He said: “The three months leading up to Christmas are always an expensive time, with pressures mounting to recreate the perfect festive occasion with gifts, parties and food all to pay for.

"In many ways, these figures are not unexpected but they do also reflect a longer-term issue for individuals who have a history of financial concerns.

“The new year is a great opportunity for individuals to resolve to tackle their money worries head on.

"It is quite understandably a very sensitive and worrying issue to deal with – particularly if these individuals don’t share the burden with loved ones – but in January, we would implore people to take a deep breath and seek professional advice.”

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