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A snapshot of UK personal debt statistics in 2024

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Statistics Yearbook 2024

The Statistics Yearbook 2024 captures a critical period of change in the patterns and causes of problem debt in the UK, offering valuable insights into the financial challenges faced by households.

Our annual publication explores the debt and demographic situation of clients, who fully completed their very first debt advice session, between January and December 2024.

In 2024, over 170,000 clients completed debt advice for the first time and our analysis provides a picture of their situation, compared to clients in previous years.

Some of the key findings from the latest Statistics Yearbook include:

1) The average unsecured debt amount per client has increased

In 2024, the average (mean) total unsecured debt amount held per client has increased by £1,018 (up 7%) compared to 2023, from £14,654 in 2023 to £15,672 in 2024.

Clients average unsecured debt amounts increased by 7%, from £14,654 in 2023 to £15,672 in 2024

2) Mortgage arrears levels have soared

Out of every household arrears type, mortgages saw the largest year-on-year increase in the average arrears amount from £6,054 in 2023 to £10,239 in 2024. This potentially signifies the lasting impact of high interest rates on our clients, even as cost of living pressures begin to wane as a primary driver of debt.

Average mortgage arrears levels increased by 69%, from £6,054 per client in 2023 to £10,239 in 2024

3) Majority of clients are in employment

In 2024, three in five (60%) StepChange clients were in some form of employment. Specifically, the proportion of clients in full-time employment has increased again, from 42% in 2023 to 43% in 2024.

Three in five (60%) clients were in some form of employment, with 43% working full-time

Want more information?

Our client data enables us to undertake further analysis and draw out even more insights about the situations of clients seeking debt advice from StepChange in 2024.

If you want to find out more about our Statistics Yearbook publications, or our research, please email us at policy@stepchange.org.