Check If You Qualify

Average Household Debt in Scotland ‘Up 65% Since 2008’

Sharon McDougall - 26th February 2016 - 2 minutes to read

The average amount of debt held by individual households across Scotland has increased by as much as 65 per cent since 2008, according to a new report looking at the state of the nation’s financial wellbeing over the past decade.

In 2008, the debt level of a typical Scottish household apparently stood at £2,200 but had risen to a level of £4,000 per household by the early weeks of 2016.

The research and report were compiled by the Scotland Institute, with its other findings suggesting that every income group in Scotland saw a decline in their real incomes between 2008 and 2012.

Families with children apparently saw the sharpest fall in the value of their incomes during that period, with those who were already deemed poor also those who saw the most significant rise in the percentage of their outgoings that went towards essential costs of living.

According to the Scotland Institute’s figures, while there has been something of a recovery for Scottish households in terms of their annual income levels since 2012, this change in real terms has been “marginal” and has “failed to keep pace with inflation”.

“Not surprisingly this prolonged squeeze on household incomes has been matched by a steady build up of household debt,” the report said.

“In 2006, median household debt in Scotland was £2,200, even in 2010 it was only £2,300 but in 2012 it reached £3,500.”

As many as 52 per cent of the people polled across Scotland for the report said that they consider their personal debts to be a burden.

The Scotland Institute’s report also suggests that much of the debt burdens that Scottish households currently carry relates to “the regular costs of living” and not so much to the costs associated with housing as is more commonly the case in other parts of the UK.

“As with the rest of the UK, Scottish households have become more burdened with debt as a result of falling real wages,” the report said.

“For many in Scotland, debt has become normal, being used not just for long term purchases but also to offset short term income fluctuations.”

If you are struggling to retain control of your personal or household debts then there are solutions available that can help you. Call Scotland Debt Solutions directly to find out more.

facebook colour icon twitter colour icon linkedin colour icon messenger colour icon whatsapp colour icon email colour icon
Sharon McDougall Square

Sharon McDougall


Other News

Debt Levels Soaring across Scotland, New Figures Show Debt Level Rising

Debt Levels Soaring across Scotland, New Figures Show

Levels of unsecured debt in Scotland increased dramatically during 2022 as the cost of living crisis took its toll on household finances.

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’ Financial Hardship

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’

Close to half a million Scots are in a position of profound financial hardship, according to a new set of figures.

Scots with Disabilities Urged to Check Eligibility for New Benefits Scottish Man In Wheelchair

Scots with Disabilities Urged to Check Eligibility for New Benefits

Disabled people in Scotland are being urged by the government to check whether they might be eligible for benefits that could help make their life a little easier.


Why Choose Us

Usp Location

5 Offices in Scotland

National Coverage

Usp House

Ask us About

Home Visits

Usp Hand Heart

Helping Scots Get

Out of Debt Since 1989

Usp Handshake

We offer an

Instant Initial Consultation

Usp Palm Wallet

We'll Help You

Lower Monthly Payments

Usp Hand Heart


Out of Debt Since 1989

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.


Useful tools

Personalised Debt Report
Usp Planner

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Debt Report
Instant Scheduled Call & WhatsApp

Instant Scheduled Call & WhatsApp

Arrange a call with an expert advisor at a time to suit you or contact our team via WhatsApp for immediate help and advice.

Arrange Callback
Find a Local Office
Usp Signpost

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

Find an Office

Our Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority

Fees and Information: There are fees associated with our services. These will be fully explained before entering into any of the personal debt solutions referred to on this website. Full details of our fees and how these are charged are fully explained to you prior to you committing to any particular service.

ICAS Insolvency Practitioners