The rate of growth in the level of consumer credit continued to fall in November 2009, according to new figures.

Financial charity Credit Action said the annualised increase rate in credit was down 0.5 per cent in the 12 months to this time.

This was in contrast with a 0.9 per cent rise in the expansion of credit secured on dwellings.

Overall, the level of UK personal debt stood at £1,459 billion up 0.7 per cent on a year earlier.

Including mortgages, the average household debt was £57,888, while unsecured debt was £9,016 or £18,784 if only those households with an unsecured loan are included.

The consequences of this were that £181 million is being paid in interest daily, while every day 1,000 people needed some sort of help to get out of debt or a debt rescheduling plan and 9,300 approached Citizens Advice over their money problems.

Head of credit cards at Nationwide Building Society Richard Napier said today (January 6^th) that debt problems are likely to be most prominent in the new year, with 60 per cent of loans in January 2009 being for the purposes of debt consolidation.