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Debt and age

Our statistics show that, as you get older, the amount of money you owe is likely to increase. So by the time you reach 60 you could owe 4 times as much as a person under 25.

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Over 40s debt problems 4x greater than under 25s

Our data shows that over 40s tend to owe four times as much money as those aged under 25.

The amount of debt a person reports to StepChange Debt Charity increases with age until they reach their early 40s, after which it holds steady at around £25,000.

We find it particularly worrying that people aged over 60 owe such large sums. Older people are generally less able to pay off their debts, as they are on much lower incomes.

Every year, we help people of all ages who are struggling with debt. As a registered charity, we provide professional, impartial debt advice that’s absolutely free.

Our online debt advice service, StepChange Debt Remedy, is free, easy to use and anonymous. Debt Remedy will give you an assessment of your circumstances, advice tailored to your needs and a personalised budget. We won’t ask you for any personal details, and you won't have to commit to anything.

Once we have assessed your situation, we will be able to advise you on the best solution for your particular debt problem.

Debt management plans

If a debt management plan (DMP) is the best option for you, we can arrange and manage your plan for you at no cost. Unlike many debt management companies, a debt management plan from us has no fees attached, so everything you pay towards your DMP goes straight to your creditors.

IVAs (individual voluntary arrangements)

If an individual voluntary arrangement is the most appropriate debt solution for you, our IVA company, StepChange Voluntary Arrangements, can support you through the entire process.


Our bankruptcy support team can offer you all the advice and information you need should going bankrupt prove to be the best option for you.

Get free debt help now

If you are worried about your financial situation, make sure you get free, professional debt help as soon as possible. Visit our online advice tool Debt Remedy and start working towards getting debt free.

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Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2017