Published by: StepChange
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Key Take Aways
The impact of problem debt persists in the UK, with demand for free, independent debt advice remaining high amid ongoing economic challenges.
The charity’s strategic focus for 2025–2030 centres on becoming a digital-first organisation, harnessing technology and expertise to build long-term financial resilience.
Client data in 2024 indicates a nuanced economic picture: rising average income and expenditure, but with persistent vulnerabilities and mortgage arrears increasing significantly.
The most common reasons for debt reported by clients include cost of living increases (20.6%) and unemployment or redundancy (14.2%), with a notable rise in unemployment-driven debt.
The organisation’s client advice efforts resulted in 170,928 clients completing full debt advice, with approximately 15,180 clients entering debt solutions and over 15,180 becoming debt-free.
Digital channels are key, with 92% of clients compl...
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