Experts from national debt charity StepChange are predicting that more than 20,000 people will contact them for advice today on what they expect to be their busiest day of the year.
They estimate that 21 million people in the UK are struggling with bills, with 2.6 million living with a severe debt problem. In Sheffield alone more than 50,000 people are borrowing an average of £800 each, subject to extremely high interest rates.
On what has been dubbed ‘Debt Day’ South Yorkshire Housing Association is urging any of its customers who are struggling with debt to make the most of the local support on offer.
Last year the association teamed up with Sheffield City Council and other local partners to launch the UK’s first ethical, not-for-profit money lending service, Sheffield Money.
Sheffield Money provides customers of South Yorkshire Housing Association with access to money and debt advice through a range of specialist partners.
Miranda Plowden, Business Development Director at South Yorkshire Housing Association, said: “There’s lots of advice and support available to people locally, and I’d urge anyone who is struggling to get in touch with Sheffield Money.
“Our first priority is to ensure that our customers have access to loans that don’t take advantage of their situation and charge them extortionate levels of interest.”
Rob Shearing, Chief Executive of Sheffield Money, said: “Since opening we have seen significant levels of unsecured personal debt across the city and we’re supporting National Debt Day together with SYHA.
“We want to empower anyone who finds themselves having sleepless nights to take action today.”
Throughout the day South Yorkshire Housing Association be joining hundreds of organisations across the UK sharing debt advice on social using #DebtDay.