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Our response to the latest Bank of England
Money and Credit statistics

1 March, 2018

In response to the Bank of England’s latest Money and Credit data (January 2018) published today, Peter Tutton, Head of Policy at StepChange Debt Charity, said:

"It’s encouraging that consumer credit growth has steadied, but the fact remains that household debt levels are high, with 620,000 people contacting us for help last year. There is no place for complacency about the state of household finances, with two fifths people of the people we advised struggling to keep up with even basic bills like rent, utilities and council tax.

"With so many financially vulnerable households it is notable that credit card lending, the most common debt we see, has seen the fastest growth. As the FCA is just about to bring in new credit card rules to help millions of consumers stuck in persistent debt, card lenders still need to make sure lending is responsible and affordable."

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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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