LATEST figures for national debt monitoring reveal that personal debt in the Ledbury area is four times higher than the national average, and is apparently galloping away.

Statistics for the area from the UK Personal Debt Index, compiled by Creditfix, the UK’s largest personal insolvency practice, took a look at debts that are not protected by a guarantor or asset, and these includes bank loans, credit cards and payday loans.

For Ledbury, the results were eye-opening.

A Creditfix spokesman said: "People experiencing financial troubles in Ledbury saw their personal debts increase by 250% in the second quarter of 2018.

"The latest UK Personal Debt Index (PDI) shows that average debts in Ledbury rose to £65,228 in the three months leading up to July, compared to the previous quarter when it stood at £18,643.This is in comparison with the national average, which stands at £16,250 as of June 30, this year."

Commenting on the findings, Taylor Flynn, head of marketing at Creditfix, said: “Once the dust has settled after the financial strain of Christmas, summer spending often starts sooner than people may think, which could explain this increase in debt. People start planning holidays and sunny trips away months in advance, so it’s no surprise to see behaviours such as overspending or relying on credit to put these plans in place.

“It’s certainly a worrying trend, especially if it continues into the next few months. On top of this initial debt, spontaneous purchases throughout summer can only add to the overall amount owed by individuals in Ledbury."

In spite of the concerning figures, Mr Flynn said there is a positive aspect to the statistics.

He said: "Although people are now coming to us with more debt, we should take comfort in the fact that they are accessing financial help in the first place.”