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We provide the UK’s most comprehensive debt advice service. Since 1993, we've helped 7.5 million people with debt problems take back control of their finances and their lives.
We advised
183,403
clients in 2023
2:00
Description here
Hi. I'm Kimberley, and I work at StepChange Debt Charity. In this video, I'm here to explain about who we are, how we operate, and how we're funded. At StepChange we're known for providing debt advice that is free, confidential, and impartial.
We were founded in 1993 with a simple aim that no one should have to pay for debt advice. And as a charity, we're proud to say that we've now supported over five million people in the UK.
We help people worried about debt by giving them free advice, and offering debt solutions that can help them write off some, or all of what they owe. Or they could pay it back over a longer period, for example, in a debt management plan. Unlike lots of charities, we're not funded by donations from the public. Most of our funding comes from organisations that lend money or provide credit for their services, like banks, credit card providers, and energy companies.
Some make one-off donations to us, and others pay something called 'fair share'. 'Fair share' just means that if we set up a repayment plan for one of their customers, then some of those companies make a small monthly donation to StepChange for managing the plan. They donate to us because they to do the right thing. They recognise that people in debt need extra support to get back on their feet.
As well as this, we also receive some funding from the Scottish Government. So why do hundreds of thousands of people trust us every year? Because of how we're funded, there must be some kind of catch, right? But there isn't, because we're regulated by the Financial Conduct Authority.
They make sure that the way we operate and the advice we give is clear, fair, and the best interest of our clients.
And because we're a charity and overseen by the Charity Commission, we are also very careful to make sure that everything we do is ethical.
For over thirty years, we've helped millions of people across the UK and we firmly believe that no one should pay for debt advice when they're already struggling.
So if you think you need help with your debts, visit stepchange.org. Debt happens. Let's deal with it. Thanks for watching.
What we doWe provide free debt advice, to help you deal with your debt and set up a solution. We’re here to help you.Find out what we do
Making a differenceEvery story is different. Hear from the people we’ve helped, and from the people that helped them.See how we make a difference
Media centreVisit our media centre for our latest press releases and news about our campaigns.Visit our media centre
PartnershipsOur partners help us help more people with debt and money problems.Visit our partner hub
Our 2023 Impact ReportShowcasing the progress we made in 2023 on delivering our strategic objectives and demonstrating the real value we provide to our clients and partners.Read the report
Annual accounts and regulatory information
Read our regulatory information and find links to our annual reports and accounts from 2010 onwards.
Read the latest reports
Hear from one of our expert debt advisors
"You're not on your own. Help is always at hand at StepChange, and we have many experienced debt advisors who can find you the right solution."
Kirsty's story
Debt happens. We deal with it.
We have helped millions of people since 1993.
Find out how.
Read our clients' stories
Read our reviews
"So thankful."
"Wasn't expecting it to be so accessible and easy to get help managing my debt.
Absolute life savers!"
Josh, Feefo Review
We are thrilled to partner with Plain Numbers
Plain Numbers work to improve the way numbers and financial concepts are communicated so people can make the right choices. We are always striving to provide the best support for our clients, and this partnership allows us to enhance our services even further.
Stepping forward: Our four-year strategy
Our strategy for 2018-23 reflects the vital need to help the rising number of people facing financial difficulty. Find our how we'll play our part in meeting this need.
Read our strategy
Equality, Diversity and Inclusion
We believe that our differences, backgrounds and experiences are what make us a better place to work and a more efficient organisation.
Our commitment
Have you been called out of the blue by someone claiming to be from StepChange?
It's likely to be a scam. We will never call you without checking you're happy for us to do so.
Find out more about how to make sure it's us
Our historyFor 30 years, we've set the standard for debt advice and debt management in the UK.
Vision and strategyWe’re working towards our vision: a society free from problem debt.
Campaigning for youWe stand up for people in debt. You can help too.
Who we work withWe couldn't do this alone. Find out who we work with.
Partner with usOur partners help us to help more people with their debts.
Our governanceOur executive team, trustees, and charity information.
At StepChange we're known for providing debt advice that is free, confidential, and impartial. We were founded in 1993 with a simple aim that no one should have to pay for debt advice. And as a charity, we're proud to say that we've now supported over five million people in the UK.
"Would recommend!! Amazing helped me immensely, especially with the cost of living going up and the financial pressure it put on myself and my family. I am budgeting and able to pay my debts less stressed and able to sleep better at night thank you."
We have 30 years' experience helping people deal with their debt problems. A lot has happened in those years, including changing our name from the Consumer Credit Counselling Service (CCCS) to StepChange Debt Charity.
StepChange Debt Charity is governed by a Board of Trustees, chaired by Lesley Titcomb CBE. The Board of Trustees as a whole is collectively responsible for delivering the long-term success of the charity, while the executive team work closely with the trustees to carry out our day to day operations.
The StepChange debt charity website had 315,000 users in May 2023, which is unchanged month-on-month. A 'cost of living increase' remains as the most common reason for debt and has increased by eleven percentage points between May 2022 (16%) and May 2023 (27%)
We receive money from StepChange Voluntary Arrangements which arranges and supervises individual voluntary arrangements. The firm earns fees that are agreed with the creditors at the outset of the arrangement and which are deducted from the subsequent distributions made to those creditors.
StepChange does not cancel plans for one missed payment, especially when circ*mstances are outside your control, but other providers may. However, we may have to cancel a DMP if there are multiple missed payments.
Entering a debt management plan is free to clients if it's provided by StepChange Debt Charity. Other providers may charge a percentage of the money you pay to them.
We help people worried about debt by giving them free advice, and offering debt solutions that can help them write off some, or all of what they owe. Or they could pay it back over a longer period, for example, in a debt management plan. Unlike lots of charities, we're not funded by donations from the public.
Your proof of income needs to include your full name, and can be one of the following: Your most recent payslip (dated within the last three months)A recent bank statement that shows your income (dated within the last three months).
People in the UK owed £1,856.8 billion at the end of June 2024. This is up by £23.3 million from £1,833.5 billion at the end of June 2023, an extra £267.79 per UK adult over the year. The average total debt per household, including mortgages, was £65,380. Per adult this was £34,612, around 96.3% of average earnings.
The Citizens Advice service helps people to resolve their problems. As the UK's largest advice provider we are equipped to deal with any issue, from anyone, spanning debt and employment to consumer and housing plus everything in between.
In 2023, 15% of the UK adult population fell into this category, equivalent to 8.1 million people. Most people in the UK, 61% of the population – or 32.5 million people – don't need debt advice.
Your credit history starts to look better after your DMP. Information like missed payments or court action is removed after six years. If an account has defaulted, the debt is removed six years after the default.
There is a small monthly service fee, but typically your monthly debt payment (which includes the fee) is reduced along with interest rates. The reduced monthly payment and interest rates more than offset the service fee.
Debt restructuring can be a win-win for both sides because the business avoids bankruptcy and the lenders typically receive more than they would have through a bankruptcy proceeding. The process works much the same for individuals and for nations, although on vastly different scales.
While debt settlement may be worth a lower credit score for some, it may not be for everyone. You should avoid debt settlement if: You can afford your monthly payments. You haven't explored options like debt management and consolidation.
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