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StepChange Debt Charity response to the Bank of England’s Money and Credit statistics

29 July, 2016

In response to the Bank of England’s Money and Credit statistics, Peter Tutton, Head of Policy at StepChange Debt Charity, said:

“Unsecured borrowing still continues to grow at a rapid pace and Britain’s outstanding credit card bill remains at historically high levels. We’ve seen in the past how increased consumer borrowing leads to more people falling into serious financial hardship and problem debt. Yet we are no closer to having a coherent set of policies that help people deal with the impacts of falling into difficulty.

“With households less financially resilient than before the economic crisis and the Financial Conduct Authority (FCA) warning over problems such as persistent credit card debt, the government needs to look at measures that will better protect people from falling into difficulty in the first place and ensure better protection for people who struggle with problem debt.”

StepChange Debt Charity news contact

Contact the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07985 404 153

Email: press@stepchange.org

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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.

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© StepChange Debt Charity 2016