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This information applies throughout the UK.

How does the FSCS affect me?

If a company holding your money closes down, you may worry that you won’t be able to get your money back. The Financial Services Compensation Scheme (FSCS) means that you can get compensation if this happens to you.

From 1 April 2018, debt management will become part of the FSCS. This means that should we cease trading, you’ll be able to get compensation for any funds that we were holding at the time of closure.

What are my rights under the FSCS?

The FSCS has been in effect for several years, and already covers a number of financial services including money deposited in authorised high street banks.

Once debt management becomes part of the FSCS on 1 April, any money that we hold on your behalf will be protected if we’re unable to meet our financial obligations. Compensation would apply to deposits of £85,000 and under. 

You can find out more information on the FSCS and how it affects you by visiting their website

Ongoing help for clients

Want to get to know your debt solution better? You can find lots of information in our clients area.

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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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*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