Top 10 of UK Most Indebted Towns

The latest statistics suggests that Chester-le-Street in Durham and Camberley in Surrey have acquired the status of the most indebted towns in the United Kingdom with residents of Chester-le-Street and Camberley owing each £3,470.79 and £2,000 on various loans accordingly. The statistics came after the data, provided by the Finance and Leasing Association, which suggested that the number of hire-purchase agreements increased by 25% in March. And despite the fact that the Brits are said to repay their debts at record rates, the data from an authoritative online source suggests that they still owe more in loans than they earn a year. For instance, UK citizens owe £1.02 for each £1 they earn. The statistics showed that tenants and homeowners, living in Kingston-upon-Thames, which is located in southwest London, are indebted the most as each of the residents ows approximately 169% of their annual earnings. Residents of Watford owe 166% of their annual income each. The statistics suggests that Southerners prefer to use plastic as the outstanding credit card debt in the South of England reaches enormous figures. The fact can be explained either by higher interest rates on mortgages in the South, which cause residents to heavily rely upon short-term lending or by the ready availability of credit cards in the South. It came as no surprise that those, living in rich areas such as Kensington in Central London, have the smallest debt per person, amounting to £1,264 each. It is also interesting to note that the residents of Northern Ireland are more responsible in terms of borrowing as they only owe £1,359 each. The list of 10 most indebted towns in terms of personal debt is presented below: 1)    Chester-le-street located in Durham - £3,470 2)    Milton Keynes located in Bedfordshire - £2,974 3)    Motherwell, located in North Lanarkshire - £2,932 4)    Harlow located in Essex - £2,887 5)    East Kilbride located in South Lanarkshire - £2,851 6)    Hamilton located in South Lanarkshire - £2,825 7)    Tamworth, located in Staffordshire - £2,817 8)    Lakeside located in Essex - £2,798 9)    Falkirk located in Stirling and Falkirk - £2,793 10)    Lichfield located in Staffordshire - £2,776