Unsecured household debts set to rise by 9.4% this year, TUC says

Largest annual rise since records began in 1987 sees forecast of average 1,660 extra debt amid cost of living crisis

UK households are expected to rack up extra unsecured debts of more than 1,600 this year, including on loans and credit cards, as the cost of living crisis continues to bite, according to a TUC analysis.

The TUC said its analysis showed that unsecured household debt - including loans and credit cards but excluding mortgages and, for this exercise, student loans - was on course to increase by 9.4%, or 1,660, in real terms on average per household this year.