Consumer debt equals €33,733 for every person

IRISH families and consumers are in debt to the tune of a record €142.7bn — more than double the €60.9bn burden of five years ago.

Figures released yesterday by the Central Bank show homeowners owed a record €139.8bn on mortgages at the end of last year, equal to €235,550 for each of the country’s 593,500 mortgage borrowers.

Central Bank figures also revealed e2.85bn was owed on the nation’s 2.2 million credit cards at the end of December, equal to €1,320 per card.