Last year, StepChange alone supported over 180,000 people through full debt advice - a 10 per cent rise on the previous year. Sadly, this increase in demand is reflected across our sector. The Financial Conduct Authority recently found that around one in six of us feels heavily burdened by domestic bills and credit commitments, while around one in eight have no disposable income.
Indeed, recent polling from the Resolution Foundation found that around one in four people has less than £1,000 in savings, with the Money and Pensions Service finding that one in six have no savings at all. The experience of struggling with debt can be isolating. Feelings of shame and stigma can prevent people talking about their problems, and lead to them delaying getting the support they need when they need it.