By Dr Julia Lyons, Senior Clinical Lead, Onebright
This week is Debt Awareness Week, and this year’s theme is around breaking down the stigma and shame associated with being in debt.
It is perhaps not surprising to hear that the number of individuals in debt has increased over recent years. In 2023, 15% of the UK population, equivalent to 8 million people, required debt advice. These individuals are typically under 35 years old, in households with children and low income, from underrepresented communities, and more likely to have experienced an income shock in the previous three years, such as a drop in earnings.
Debt can be a significant challenge for some people and worrying about personal finances can…
