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StepChange Debt Charity response to the latest Bank of England Money and Credit statistics PDF Print E-mail
Thursday, 01 March 2018
In response to the Bank of England’s latest Money and Credit data (January 2018) published today, Peter Tutton, Head of Policy at StepChange Debt Charity, said:  "It’s encouraging that consumer credit growth has steadied, but the fact remains that household debt levels are high, with 620,000 people contacting us for help last year.  There is no place for complacency about the state of household finances, with two fifths people of the people we advised struggling to keep up with even basic bills like rent, utilities and council tax.   

"With so many financially vulnerable households it is notable that credit card lending, the most common debt we see, has seen the fastest growth. As the FCA is just about to bring in new credit card rules to help millions of consumers stuck in persistent debt, card lenders still need to make sure lending is responsible and affordable.”

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