Number of Brits with ‘Severe Problem Debts’ up to 3.3 million

Charity StepChange, which complied the data based on a survey of 5,000 people carried out by YouGov, said that the number of British adults currently living with ‘severe problem debt’ now stands at 3.3 million.

The charity uses the term ‘severe problem debt’ to refer to people who struggle consistently to pay down their debts, who fall behind on paying essential household bills or rely on credit to get by on a month to month basis.

Peter Tutton, head of policy at StepChange Debt Charity, said: “Whilst the steady growth in consumer credit does not necessarily indicate a debt ticking timebomb, the number of households tipped into severe problem debt is on the rise.

“With January still the busiest period for debt advice, those already falling behind with essential bills and credit repayments need better support.

The UK government has been consulting relevant stakeholders in recent months with a view to introducing a six-week ‘breathing space’ period during which debtors would be legally protected from their creditors.

Mr Tutton added: “As the Treasury has committed to introducing a Breathing Space scheme to help people manage problem debt, it’s crucial government get this right so that debt advice charities can provide people the best chance of recovery and get their lives back on track.”