StepChange News and Views: May edition
StepChange Debt Charity
We're the UK's largest provider of free debt advice, online or over the phone.
Welcome to the latest edition of StepChange News and Views, our monthly newsletter where you can keep up to date with everything happening at StepChange Debt Charity.???
In this month’s newsletter:???
Our latest research and insight??
StepChange in the media??
The latest news from StepChange??
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Our research and insight:???
Our latest polling – Mortgage holders turning to credit to meet debt repayments?
Nearly 1 in 4 mortgage holders have turned to other forms of credit or borrowing in the last three months to keep up with existing borrowing commitments, with 1 in 6 using a credit card in the past 3 months to maintain their household bills. This comes as last week the Bank of England held interest rates at 5.25% and UK Finance revealed a rise in mortgage arrears. Read our full response and see our latest YouGov polling figures here .??
New research: Preventing harm in consumer credit?
Our latest research explores how consumer credit can worsen financial and mental health issues for those struggling with living costs. It suggests actions for government, regulators, and industry to help break the cycle of dependency on credit. Find out more ?
StepChange in the media:???
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Contributing to?Equifax’s Financial Wellbeing report?
Our Chief Executive, Vikki Brownridge was featured in Equifax’s latest report ‘Making ends meet: who is paying the price?’. Vikki shared insight from our client data for the report which explores the real-world impact the cost-of-living crisis is having on households across the UK. Read the full report ??
Inclusive services for deaf customers?
Following the successful introduction of our British Sign Language service, we were delighted to contribute our findings to The Lending Standards Board's?latest report ?which?explores the progress made by financial firms?in offering better accessibility to deaf customers.???
Our response – BoE Money and Credit Statistics?
The BoE’s latest figures show net mortgage approvals at their highest level since September 2022, while consumer credit borrowing remains high, increasing ￡0.2billion between February and March. Responding to the figures, read StepChange’s Chief Client Officer, Richard Lane’s response here .??
What’s going on at StepChange??
Departing Chair of Trustees John Griffith-Jones shares his thoughts
As we welcome Lesley Titcomb to her position as our new Chair of Trustees, our outgoing Chair John Griffith-Jones shared his reflections on his 5 years in the role, and what the future holds for StepChange. Read John’s comments here .??
We’re shortlisted for three?awards at The Consumer Credit Awards by Smart Money People?
As previous winners, we’re delighted that we’ve been shortlisted for three?awards at the Consumer Credit Awards 2024 from Smart Money People:???
???Customer service champion?
??Best financial support provider?
?? Company of the year???
These awards are especially important to us as they are voted for by clients and celebrate the care our frontline teams provide.?We’ll find out if we have won on July 11th.??
We’re shortlisted for 2 awards at the Credit Awards by Credit Strategy?
We’re delighted to be shortlisted for ‘Debt Advice Provider of the Year’ and ‘Vulnerable Customer Strategy of the Year’ awards at the Credit Awards by Credit Strategy. Winners will be announced at Credit Week on the 18 June.?
Come and see us at Credit Week at Celtic Manor, 17-19 Jun
We’re excited to be attending Credit Week next month where we’ll be hosting a partner listening session about what the debt advice sector of the future may look like. If you’re attending then please come have your say, we would love to hear your thoughts.??
If you’d like to discuss how we can work with your organisation, please get in touch with our team at [email protected] ?