Summary
Charities are receiving a large number of calls from people seeking help with debt after the holiday season. January is usually busy for debt advice services, but this year has seen an especially high number of people reaching out, particularly late at night. Many people are worried about their ability to pay important bills and manage their debts.
Key Facts
- Debt charities report a surge in calls for help with debt in early January.
- The charity StepChange noted that Monday was its busiest day compared to any single day last year.
- Money Wellness, which offers free debt advice, reported a fifth of its service users reached out between 10 PM and 3 AM.
- Many people accessed online debt advice on Christmas Eve and Christmas Day.
- StepChange’s website had nearly 4,000 visitors on Christmas Day and over 15,000 on New Year's Eve and New Year's Day combined.
- The Money Advice Trust reported the most calls on the first working days of January in its history.
- Rising bills, especially for council tax and rent, are major concerns, along with outstanding energy debts.
- Credit card borrowing saw a significant annual growth rate of 12.1% in November, indicating increased reliance on credit.
