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StepChange Debt Charity responds to insolvency statistics

In response to today’s (October 29) insolvency statistics, Francis McGee, external affairs director at StepChange Debt Charity said:

“While a fall in the overall level of insolvencies is welcome news, the rise in the number of Debt Relief Orders (DRO) highlights the importance of this vital form of debt relief.

“DROs are an essential part of the protections available to seriously indebted people on low incomes. As the Insolvency Service reviews the future of DROs, it needs to ensure that this scheme is sustainably funded, so that the benefits of DROs continue to be available to all who need them. We welcome proposals to widen access to DROs, but without new funding, a substantial burden will be placed on the free debt advice”.

Anyone considering insolvency should get free, impartial debt advice first so that they are fully aware of their options and the implications of this course of action.

Contact the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07985 404 153

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.

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© StepChange Debt Charity 2019