Business Debtline hits record numbers as cost-of-living pressures continue

The National Debtline and Business Debtline have provided more free debt advice in 2024 than ever before as cost-of-living pressures continued to hit household finances, according to the Money Advice Trust’s latest Impact Report.

The charity’s free, independent debt advice services for individuals and small businesses provided six million minutes of debt advice, with 271,900 interactions by phone and webchat through the year – an increase of 36% on 2023.

In 2024, National Debtline helped 118,300 people over the phone and via its online debt advice tool (and increase of 64% on 2023). The service also helped 32,200 people via webchat and received 2.18 million visits to its website, with free advice, information and tools to help deal with problem debt.

Household budgets continue to be stretched to breaking point for many, with energy, council tax and water arrears featuring in the top 5 debts National Debtline clients struggled with in 2024, alongside credit cards and overdrafts. More than two in five (43%) people helped by National Debtline during the year had a negative budget, meaning their income does not cover their essential costs – with the report highlighting the important role free debt advice plays in helping people at the sharp-end of financial difficulty.

More than nine in ten people reported a reduction or stabilisation in their debts following advice from National Debtline.  78% of National Debtline clients reported that their debt problem was completely, mostly or partly resolved as a result of the advice they received, while a similar proportion (80%) said feltwere less likely to be in a similar situation in the future. Crucially, more than seven in ten (72%) reported a positive impact on their mental or emotional health, indicating the holistic as well as practical benefits of seeking free, independent advice on dealing with debts.

The charity’s unique Business Debtline service helped 37,800 small business owners over the phone in 2024 (an increase of 32% from 2023) and 15,400 by webchat, with the website receiving more than 667,000 visits. 90% of people saw their debts reduce or stabilise as a result of the advice given, while 68% now feel more confident about the future of their business.

With the charity’s recent research showing that around half (49%) of small business owners don’t know where to go to get support with their business finances, 2024 also saw the Money Advice Trust develop its new Building Up Business programme in partnership with Aviva – delivering free online learning to help small businesses thrive.

In addition to its frontline advice services, the Money Advice Trust continued to partners with creditors to support vulnerable customers, with  30,290 training places were delivered to staff in 50 creditor organisations in 2024.The charity’s Wiseradviser service also provided 14,540 training places to thousands of advisers in 750 free-to-client agencies in the UK, resulting in 99% of participants reporting improved outcomes for their clients.

With eight million people in the UK in need of debt advice, the Money Advice Trust is embarking on a refocused mission to help prevent financial difficulty and remove problem debt from people’s lives – developing a new strategy to transform its debt advice services,  broaden the reach of free debt advice, and explore ways to prevent financial difficulty from occurring in the first place.

Steve Vaid, Chief Executive at the Money Advice Trust, says: “Our latest report underscores the significant impact our National Debtline and Business Debtline services have – helping to remove problem debt from people’s lives, supporting them to take control of their finances and improve their wellbeing.

“We had a record 12 months last year, and 2025 has already broken new records for the number of people contacting us for advice – but we know we have more to do. With 8 million people in need of debt advice, we are transforming our services and broadening the reach of our work to improve access to life-changing debt advice amongst groups who are currently less likely to seek help, as well as focusing on preventing financial difficulty occurring in the first plac

“I know that the expertise, dedication and commitment of our people and our partners is second to none and I look forward to working together to grow our impact even further in the years ahead.”