A powerful view of the extent of reliance on consumer debt in UK, and the US numbers will be at least as big relative to the economy.

Thousands to have usual credit lines cut off – Times Online

Almost 600,000 people will be unable to refinance their debts this year after finding their usual lines of credit cut off, forcing them to go bust or sign expensive “bankruptcy-lite” agreements.

About one million Britons are struggling with £25 billion of unsecured borrowings that they cannot repay – “problem debt” averaging £25,000 each – according to a report by TDX Group