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101 property repossessions each day in UK

* 331 people are declared insolvent or bankrupt; this is equivalent to one person every 60 seconds during each working day;
* 1779 Consumer County Court Judgements are issued (the average value of a CCJ in Q3 2011 was £2816);
* Citizens Advice Bureaux in England and Wales dealt with 8652 new debt problems every working day during the year ending September 2011;
* 101 properties are repossessed;
* 88 new people became unemployed for over 12 months;
* 193 mortgage possession claims are issued and 153 mortgage possession orders are made;
* 8.0million cash withdrawals are made with a total value of £531million.

Credit Action CEO Michelle Highman said: "Our ‘day in the life’ statistics show the sheer scale of the financial problems faced in the UK and illustrate the numerous ways in which we are all vulnerable to the economic downturn.

"However, there are ways to take control of your financial situation. There are many tools available to help with this, such as our Spendometer, which in 2011 helped over 40,000 people keep track of their money.

"If however you do find yourself in a situation where your debts are already out of control, make sure you seek free debt advice from services such as the CAB or the Consumer Credit Counselling Service."

* The Credit Action Spendometer tool can be downloaded from www.spendometer.co.uk/

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