Today, StepChange Debt Charity marks the beginning of Debt Awareness Week, its annual campaign to raise awareness of problem debt and remind people that now, more than ever, free advice is available from an impartial charity.
This year’s campaign comes as the cost-of-living crisis continues to severely impact households across the UK. In January, the charity experienced its three busiest days for providing free debt advice since before the pandemic, and as more and more people struggle with unmanageable debt, it’s clear that Debt Awareness Week is more important than ever.
The theme for this year’s Debt Awareness Week is ‘what is debt advice?’ StepChange’s own research has suggested an increasing number of people are experiencing financial difficulty for the first time, with the rising cost of living now the most common cause of debt among its new clients.
However, with money worries and debt still a topic that many find difficult to talk about openly, the charity anticipates there are many more out there who may need help with problem debt but simply don’t know what support is out there.
The campaign aims to show the public that debt can happen to anyone, and explain the support options available so that people can access free and impartial debt advice when they need it.
Richard Lane, Director of External Affairs at StepChange says: “The cost of living crisis is hitting us all. So this Debt Awareness Week, we want to make it clear that support is available for people dealing with unmanageable debt. Our research shows that ‘debt advice’ can be a confusing term – many don’t know what it involves, who it’s for, or how to access it. At the same time, with the cost of living impacting people who may have never previously struggled with their finances, there are likely to be many more people who need help but aren’t aware that free and impartial debt advice is available.”
“We want to start a national conversation this week to challenge assumptions about debt advice and bust the myths so that everyone who needs our help is clear on the range of support that’s available, and how to access it.”
“One of the most common misconceptions about debt is that it only affects people on a low income, but we know this isn’t the case – debt can happen to anyone, and this is only amplified by the effects of the cost of living crisis.”
As Paul Andrews, Founder and CEO of Family Business United adds; “We are proud to support this campaign and to raise awareness of some of the help that is available to people today. Financial wellbeing is often a taboo subject but with the cost of living crisis continuing to affect people across the UK, campaigns such as this make a massive difference.”
