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How we're funded

Understand how we're funded

We don’t believe than anyone should have to pay for debt advice when they’re struggling. We’re only able to deliver free debt advice to so many people because we’re funded almost entirely by voluntary donations.

These donations come from creditors such as banks, building societies, high cost credit providers, utility companies and The Money Advice Service. With their financial support we helped 620,000 people in 2017.

Rising demand

We estimate that the social cost of problem debt to society is £8.3bn a year through the additional strain on health services, lost productivity, lost jobs and longer term reliance on welfare and support services.

With predicted rises in interest rates and further pressure on those living on welfare payments, we expect the need for our services to continue to increase, and without the continued support of our funders we won’t be able to meet that demand. Our main source of funding is a model called fair share contribution (FSC).

Fair share contribution

Creditors understand that free debt advice is beneficial to their customers, and society as a whole.

Fair share contribution (FSC) is a funding model that we introduced to the UK whereby creditors make a donation to our charity. With FSC creditors who receive a payment from one of their customers on a StepChange debt management plan pay a percentage-based contribution for our service, based on the payments they receive.

This funding model allows us to continue to provide free debt advice and continuous support to our clients, is widely recognised within the industry and was recently endorsed in an independent review of the funding of debt advice (PDF) by Peter Wyman.

Other income

Last year donations amounted to 80% of all income in the year, however we are actively diversifying our funding model so that we can help more people.

We receive money from StepChange Voluntary Arrangements which arranges and supervises individual voluntary arrangements. The firm earns fees that are agreed with the creditors at the outset of the arrangement and which are deducted from the subsequent distributions made to those creditors. Our other subsidiary, StepChange Financial Solutions, also contributes to our income. It provides advice and the arrangement of both equity release plans and mortgages aimed at helping people out of problem debt.

Other income sources include donations from utility companies, statutory fair share payment for distributing funds of our Scottish Debt Payment Programmes, and interest on cash balances.

How can my organisation make a one-off donation to the charity?

If your organisation would like to make a one-off donation to StepChange, please contact our strategic partnerships team to arrangement a payment.

How can my organisation become a regular funding partner?

If your organisation would like to become a regular funding partner of the charity, please complete our contact form and our strategic partnerships team will contact you shortly.

Our vision

Our funding not only helps us to deliver free and impartial debt advice to thousands of people every year. Our campaigning, influencing and partnership work brings about change in industry practice, regulation and government policy.

We work to prevent more people from falling into problem debt and to reduce the harm it causes, to work towards our deliver our vision of a society free from problem debt.

Email our partnerships team

If you'd like to partner with us, we'd love to hear from you. Contact us for more information.

Email us

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.

We link to external websites where they contain relevant information for our visitors. We're not responsible for the content of these websites, or any infringement on your data rights under data protection regulations by any external website provider.

*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 2018