Two in five Scots now struggling with bills and credit commitments.
A Scottish debt advice charity has launched a new handbook designed to improve access to free debt advice services for Scots struggling with their finances.
StepChange Scotland, in partnership with the Scottish Government, has today launched a new Debt Guide, a handbook giving an overview of the signs of debt, managing income and budgeting, emergency help, and what debt solutions are available.
New research commissioned through YouGov by StepChange Debt Charity of UK adults (of whom 185 live in Scotland) has revealed two in five (41%) Scots have found it difficult to keep up with bills and credit commitments in the last few months.
This is up by twelve percentage points year-on-year, from three in ten (29%) in September 2023.
The poll also shows in September 2024, one in three (34%) adults in Scotland have shown at least one sign of financial difficulty in the past three months. A figure which was 30% in September 2023.
In addition, around one in seven (15%) adults in Scotland have rationed the amount of heating and electricity they have used to keep up with credit repayments, while around one in eight (13%) would not be able to pay any of an unexpected bill of £1,000 immediately without turning to borrowing.
A further one in ten (10%) would not be able to pay more than £250 without turning to borrowing.
With winter approaching and households facing a rise in the energy price cap next month, people may start to see their outgoings creep up, making those on lower incomes more vulnerable to the risk of problem debt.
The new guide includes information on how to recognise when debt is becoming a problem, alongside detailed guidance on what free debt advice and solutions can offer to someone struggling.
Any organisation can order free copies of the English language print guide to support their customers via the StepChange website.
The digital edition of the Guide, which is also available in Urdu, Polish and Punjabi, can be downloaded from StepChange’s website. There are also video guides available.
Sharon Bell, head of StepChange Scotland, said: “Many Scots are still struggling to keep on top of bills and credit commitments, as essential living costs have soared in recent years. It’s vital that as many people as possible know that free and impartial debt advice is available to help those going through financial hardship.
“Our new Debt Guide provides useful insight around where someone can turn if they’re experiencing problem debt, what happens at debt advice, and what solutions may be presented to them to start their journey to becoming debt-free.
“We know that talking about money and financial difficulty can be daunting and can often be a barrier to people seeking help. However, debt problems can happen to anyone, and no one should have to deal with financial stresses alone. Getting help early can be hugely beneficial in overcoming debt problems quickly.”
