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Response to the Priority Services Register (PSR) Review

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Problem debt and vulnerable clients. Changing the definition of vulnerability.

StepChange Debt Charity agrees with the Ofgem approach to enhancing eligibility by changing the definition of vulnerability to be based on personal characteristics and circumstances, rather than depending on the assignment of ‘core groups’.

We ask Ofgem to understand that evidence of financial difficulties is a personal circumstance that can cause vulnerability. The distress problem debt creates is linked to poor mental health and can have negative consequences for family life and employment.

  • 74% of StepChange Debt Charity clients polled said debt had affected their sleep patterns
  • 57% of indebted parents said debt put their current or most recent relationship under strain
  • 43% said debt worries left them unable to concentrate at work
  • 6% said it caused changes to work attendance like arriving late or taking more time off

If not addressed, financial problems can have long term debt consequences.

A summary of our response:

  1. We support the Ofgem approach to enhancing eligibility by changing the definition of vulnerability to one based on personal characteristics and circumstances
  2. We stress that problem debt is a personal circumstance that can cause vulnerability
  3. We welcome the acknowledgement that families with children under five are likely to have additional vulnerability

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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.

*This is the average rating of our service on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2016