Our services and solutions
Debt solutions in Scotland
More ways to get help
Don't know where to start?
Answer a few questions, so we can find the best way to help
Got a debt question?
More about us
Debt in the UK
StepChange in Parliament
We work with parliamentarians on briefings, events & debt trends
The latest debt trends & analysis from our industry experts
Log back in to OnlineDMP to manage your DMP
Other ways to get in touch
Get debt help online now
Get free advice on how to deal with your debt online from the UK's leading debt charity
Find out how the coronavirus pandemic has affected personal finances.
We have used data from our clients to understand how the coronavirus pandemic has affected personal finances in the UK, from April to October 2020.
The pandemic has delivered a significant blow to household finances. The need to lock down large swathes of the economy for extended periods has meant that many have lost work, resulting in large income shocks.
Using data gathered through advice sessions and online survey data, this report highlights demographic changes among our client population, as well as shifts in the debt profiles of our clients that have occurred during the pandemic. The report also crucially explores the factors that have underpinned clients’ financial difficulty, and how they’ve coped through this adverse time.
Here, you can find some of the key findings from our latest research:
Many new StepChange clients faced financial difficulties throughout the pandemic.
A growing proportion of new clients had fallen behind on essential household payments such as , utility bills and rent between April and October 2020.
Income falls from job losses, hours reductions and furlough meant that people were struggling to make ends meet and falling further into debt.
The proportion of new telephone clients in receipt of Universal Credit increased between April (34%) and October (44%). Many clients who had claimed Universal Credit since the pandemic, while grateful for the support, reported how huge the gap was between Universal Credit and their outgoings.
Coronavirus has resulted in significant hardship, with clients having to juggle bills and debt repayments while continuing to provide for their families on depleted incomes. Coping often meant skipping meals and making do with less.
For further demographic and household debt information, please read the full report.
Download the report
Read our blogpost about the research.
Or email us to discuss our coronavirus personal debt statistics and other debt research across the UK.