The true extent of Britain’s Debt problems

It’s time to #RaiseTheLevy

A new report from the Centre for Responsible Credit (‘CfRC’) reveals the shockingly high level of need for debt advice.

Analysing the Money and Pensions Service's own survey data, CfRC find that MaPS has under-estimated the need for debt advice by 5 million people. This has been happening since 2021, when MaPS changed the way it estimates need without consulting the sector.

Amazingly, the MaPS approach to estimating the need for debt advice even excludes a third of people who are actually receiving it.

You can read the full report here.

We are calling for HM Treasury and the Department for Work and Pensions to urgently review and raise the levy on financial services firms to pay for more debt advice. And we are also calling for the levy to be extended to energy companies, and for a windfall tax on Buy Now Pay Later lenders who currently pay nothing towards debt advice.

To win this campaign, we will need your help!

We have drafted a template letter to send to your MPs. You can download this here.

Please take the time to add your own details and a paragraph or two about your own experience of delivering debt advice, and send this to your MP.

We need as many debt advisers to support this call as possible.

#RaiseTheLevy