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StepChange Debt Charity reaction to insolvency statistics

02 August, 2013

“While the general trend towards a decline in personal insolvencies is to be welcomed, the fact is that these numbers remain above the long-term average. 

“With the levels of outstanding consumer debt now at similar levels to where they were 10 years ago, we would expect to see personal insolvencies fall back to those levels experienced a decade ago. This is not the case, and suggests that many people are struggling with a substantial debt overhang.

“As household finances continue to feel the effects of a weak economy and austerity measures, it’s crucial that households be given the necessary breathing space to help avoid the unwelcome prospect of insolvency.”

StepChange Debt Charity news contacts

Contact the the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07507 880 478

Email: press@stepchange.org

Follow our press team on Twitter: @StepChange

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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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