Average consumer borrowing rose to stand at £4,724 per average adult in the UK at the end of October, according to figures from Credit Action.

This borrowing includes credit cards, overdrafts, unsecured personal loans and retail finance deals.

According to the financial body’s data, the average amount owed by every adult in the UK – including mortgages – is £30,208. This figure is 133 per cent of average earnings.

Meanwhile, average household debt in the UK stands at around £9,120 – if mortgages are not taken into consideration.

Credit Action stated: “This figure increases to £21,210 if the average is based on the number of households who actually have some form of unsecured loan.”

It concluded by noting that 1,000 people seek out a form of debt rescheduling plan on a daily basis.

At the end of September, the body announced that total UK personal debt stood at £1,459 billion.