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Our response to Bank of England Money and Credit statistics

September 29, 2017

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

“Consumer credit growth remains high, demand for debt advice is at record levels and, after years of decline since the economic crisis, the unsecured debt levels of our clients are increasing."

"Millions of people’s household finances are on a knife edge with nearly 9m people in the UK having had to rely on credit to cover essential household bills in the last year. Increasing levels of household borrowing will almost certainly mean more people falling into serious financial difficulty in the future. The Government needs to make this issue a policy priority now.”

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.

*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 2017