Two of the UKs biggest organisations offering advice to consumers on how to manage their debts have warned they do not have the resources to cope with the growing wave of people in trouble.
UK consumer debt levels have now surpassed those seen before the financial crisis, and official figures suggest that over 2m people a year will need debt advice by 2022 double the current capacity prompting concerns of a funding gap.
PayPlan and StepChange, who provided free debt advice to nearly three-quarters of a million people last year between them, have said that growing numbers of debt-collection groups are refusing to pay the voluntary contributions that fund their services.
Unless we can fix the funding model, we are going to have probl…
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