We aim to make our website as accessible as possible. However if you use a screen reader and require debt advice you may find it easier to phone us instead. Our phone number is 0 8 0 0 1 3 8 1 1 1 1. Freephone (including all mobiles).
StepChange Debt Charity logo

StepChange Debt Charity responds to Financial Conduct Authority review of debt collection practices

12 March, 2014

In response to the Financial Conduct Authority’s (FCA) announcement of a review of debt collection practices by payday lenders, Mike O’Connor, Chief Executive of StepChange Debt Charity said:

“Today’s announcement by the FCA sends a clear message to the payday lending industry that poor debt collection practices cannot be tolerated.  Time and time again, people struggling with payday loan debts have been the victims of atrocious treatment by lenders. Too often people are being kicked when they are down.”

“Clients tell us that they are subjected to aggressive and threatening calls, adding unnecessary stress and anxiety for those people in difficulty.  Lenders continue to apply excessive interest and charges to the debts of those in difficulty, which can see relatively small amounts of a few hundred pounds escalate to thousands, pushing people deeper and deeper into debt.”

“The FCA’s decision to address this issue is  further evidence that the payday lending industry is not working in the best interests of consumers. While action by the FCA is welcome, lenders should take the initiative to show they are serious about treating customers fairly by accepting reasonable payment offers and sign-posting people to free debt advice. We hope that some payday lenders will take the opportunity to differentiate themselves and treat customers fairly ”

Contact the the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07985 404153

Email: press@stepchange.org

Follow our press team on Twitter: @StepChange

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.

We link to external websites where they contain relevant information for our visitors. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider.

*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 2019