Half of adults have experienced problem debt

New research from StepChange has shown that one in two people (51%) have experienced problem debt, with 44% of them telling no one about their financial struggles.

The debt charity is urging people to talk more openly about debt to help break down stigma and encourage those struggling to seek free, confidential advice sooner.

New polling by Censuswide, commissioned by StepChange, highlights how debt can affect people withe almost four in five (79%) saying their debt problems caused significant stress, and two in five (40%) said it made them feel ashamed

The charity warns that stigma around debt is fuelled by misunderstandings about what causes it. Contrary to common assumptions, some of the leading causes among StepChange clients are unexpected life events, including unemployment or redundancy (15%) and illness or injury (10%).

However, the public significantly underestimates these factors. In the survey, with j ust 9% believed unemployment or redundancy was the biggest driver of debt in the UK. Only 1% identified health issues as the main cause. Meanwhile, 7% pointed to gambling, despite it affecting only 2% of StepChange clients

Vikki Brownridge, CEO at StepChange Debt Charity, said “We know talking about debt can feel daunting. Money remains one of society’s most closed‑off topics, yet open conversations can make a huge difference for anyone struggling.

With problem debt affecting one in two people, breaking down its stigma is essential. When we reduce the shame and silence around debt, we remove one of the biggest barriers stopping people from seeking the help they deserve.”