Four in ten people struggling with debt wait a year before seeking help

More than four in ten people struggling with debt wait over a year before seeking help, according to research from StepChange Debt Charity and PRA Group.

The study of more than 1,600 debt management plan client, found that 43% worried about their finances for more than a year before seeking advice. Embarrassment was the most common reason for delaying support, with nearly one in five clients saying it prevented them from getting help. A further 10% feared being judged, while 10% were unaware debt help was available.

The research shows people often spend months or years juggling credit cards, overdrafts and borrowing from friends and family. Many reported using credit to repay credit while trying to maintain the appearance that everything was under control.

Participants reported concealing their difficulties from financial organisations, partners, friends and family. Interviewees often viewed debt advice as something for people with more serious problems than their own, even when facing clear signs of financial distress. As a result, many delayed seeking help until their circumstances had significantly worsened and they reached a crisis point.

The findings suggest that accessing support earlier can significantly improve outcomes. Many participants reported feeling immediate relief after seeking advice, indicating that access to impartial information, practical options and a clear plan helped them reduce uncertainty and move forward. Breaking down stigma and normalising conversations about debt could encourage more people to seek help sooner, potentially minimising financial hardship and improving long-term financial wellbeing.

Additional cost-of-living research undertaken by PRA Group revealed similar patterns. Just 35% of PRA Group customers surveyed in the UK had contacted support organisations in the previous six months, while 60% had borrowed money over the same period, highlighting a reluctance to seek assistance despite growing financial strain.

PRA Group UK Country Operations Director Tim Kirk said “Behind these findings are people who have been carrying the worry of debt on their own, sometimes for a long time. We want people to know that they will be listened to, not judged. Staying silent can allow problems to grow, while misleading information online can make an already difficult situation feel even more confusing. A conversation with a trusted partner is the first step towards finding a way forward.”

CEO of StepChange Debt Charity Vikki Brownridge said “Too many people continue to struggle in silence because they feel ashamed about their situation. The findings show the importance of debt advice that is visible, accessible, free and non-judgmental so people can seek support before financial difficulties worsen. Earlier engagement helps people regain control and build a more secure future.”