Having spent many years meeting financial advisers up and down the country, I’m convinced that they represent an untapped source that could hugely contribute to tackling a major social issue – problem debt.
Debt charity Step Change – just one of many agencies working in this field – reported that over 170,000 clients completed debt advice with them for the first time in 2024.
Areas of debt on the rise included energy bills, following the huge hikes in energy costs in recent years, and council tax arrears, as council tax bills continue to rise faster than inflation.
It is tempting to assume that many people in problem debt are out of work, perhaps through unemployment or poor health.
However, StepChange has reported that…