StepChange Debt Charity response to The Children’s Society report ‘The Damage of Debt’
22 September 2016
In response to ‘The Damage of Debt’, the new report from The Children’s Society, Mike O’Connor, Chief Executive of StepChange Debt Charity, said:
“Problem debt can happen to anyone at any time and it is often caused by life events such as illness, job loss or relationship breakdowns. The effects on individuals and their families can be devastating.
“Giving breathing space to people who tackle their debt problem would help prevent short term financial difficulty leading to a damaging, long term problem. It would protect families and help them to recover financially and get on with their lives. Without breathing space, aggressive enforcement and spiralling interest and charges add to the distress and anxiety people already suffer.
“Since the Government announced its intention to review the protections available in March last year, nearly a million people have sought help from StepChange Debt Charity and many more have struggled by on their own. Action is needed now, before the one million becomes many millions.”
Notes to editors
- Since the Government announced its intention to conduct a review of the legal framework for debt administration in March 2015, over 900,000 people have contacted StepChange Debt Charity and over 90,000 new clients have entered into debt management plans.