CCR Magazine

You are here  :Home arrow News arrow StepChange Debt Charity response to Insolvency Statistics
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


StepChange Debt Charity response to Insolvency Statistics PDF Print E-mail
Wednesday, 29 April 2015

Following news that personal insolvencies had fallen to their lowest levels since 2005, Peter Tutton, head of policy at StepChange Debt Charity, said:

“The continuing decline in the levels of personal insolvency is welcome news. But with levels of personal borrowing growing rapidly once again, the next government and lenders must ensure that the mistakes of the pre-crisis credit boom are not repeated. Our concern is that growing levels of consumer credit will be followed by growing numbers of people falling into problem debt.
Insolvency not meeting the needs of people in debt
“Insolvency is only meeting the needs of the small segment of the indebted population who have long-term intractable financial difficulties. Last year, we advised over 300,000 people and insolvency was the right course of action for just 20%. The majority of our clients who have suffered a financial shock need time and space to get back on their feet.
“The Treasury’s recent announcement that it would consult on measures to give people in debt “breathing space” by freezing interest and charges when they take action to tackle their debts was a welcome step forward. The next government must commit to completing this review and ensuring that people struggling with debt get the right protections.”

(Source - StepChange Debt Charity Press Release)


latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197