Breaking down barriers to accessing debt advice

In our recent Money and Pensions Service-funded debt advice impact report, we highlighted the transformative effects debt advice can have, especially for people in vulnerable situations. The services we fund are making a real difference.

One of the most striking findings is that, in 2023/24, people who accessed MaPS-funded debt advice gained an estimated £48 million in extra income. That’s not a small sum. For many, debt advice doesn’t just help them manage, reduce or write off their debts – it helps them find a way forward with more money in their pockets.

The evidence is clear: debt advice helps more than the immediate financial situation. It creates lasting positive changes that boost financial resilience and mental wellbeing. We know that debt problems can have a corrosive effect on a person’s relationships, self-confidence and mental health, and every expense can ratchet up the anxiety.

In a 2023 study, we sought to better understand some of the motivations and barriers to people accessing debt advice. Our report shows that many people don’t get the debt advice they need because they find the process overwhelming, fear they will lose control of choices about their finances or feel embarrassed.

It’s important that people affected by debt problems know that they aren’t alone and that there is non-judgmental advice and support available. Our report found that 87% of people who received MaPS-funded debt advice said they would recommend the service to someone in a similar situation. Many people wish they had acted earlier, but no one ever says they got debt advice too soon.

We also know from our research that another barrier to people accessing debt advice is not knowing what debt advice actually is. We need to raise public awareness and let people know that debt advisers are there to provide people with expert, impartial advice, tailored to their unique circumstances. Most importantly, people receiving debt advice will always remain in full control of every decision—advisers are there to empower people to find a way forward.

Take a look at this short YouTube videoOpens in a new window, where debt advisers Tom, Ruby and Ioana explain in more detail what people in debt can expect from a debt advice appointment.

If you or someone you know is facing financial difficulties, remember you are not alone. There are services out there ready to help, offering practical solutions.

Beyond that, debt advice can help you move beyond the financial money issues you’re facing right now, and help you work towards the financial future you want.

•  MoneyHelper debt advice locatorOpens in a new window

Other tools and resources

• Dealing with debtOpens in a new window
• Tackling problem gambling and debtOpens in a new window
• Help if you're struggling with debtOpens in a new window
• Bill prioritiser toolOpens in a new window