While every customer is of course free to choose a provider and solution that works for them, StepChange research shows that customers choosing a fee charging solution will pay more in fees and take longer to pay off their debts.
Our analysis shows that an average client taking a DMP with a fee-charging provider will:
- Pay nearly £6,000 in fees*
- Spend an extra 2-3 years on their DMP*
*Compared to taking a DMP with a free provider such as StepChange
We believe that customers on a free debt solution will receive a better outcome and return to financial security faster than with a charged solution. That’s why this autumn we’re raising awareness of the free debt advice and support out there.