Debt Awareness Week

20th-26th March 2023

 

Debt can happen to anyone...

The cost of living crisis and economic uncertainty has and continues to affect people from all walks of life, including those who never thought they would face financial difficulty. StepChange Debt Awareness Week aims to bring to light that debt can happen to anyone and here at DAM we want to help people be better prepared during financial hardship by sharing our best practices.

Resources...

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4 in 5 UK adults will have entered 2023 in some form of financial debt. 

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Article: The Dangers of Pay-Day loans

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Total unsecured 
debt per UK adult as of December 2022 was £3,914

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Video: How can your benefits protect you from debt

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Tool: Debt Test

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Links: Visit the official Debt Awareness Week for more resources. 

 

 

Got any more questions?

In general terms, debt is essentially money you owe to a person or organisation after they loaned you it in the first place. Examples of monetary debt can be: 

  • credit card debt 
  • student loans 
  • rent arrears

Please note DAM are not debt advisors and therefore cannot provide advice on this matter. If you are looking to get help with your debts, here are some charities and organisations that can help: 

As mentioned above, DAM are not debt advisors and therefore cannot provide advice on this matter, we can however offfer guidance and support around money management that will ultimately help you avoid debt in the long run. 

If you would like to speak with your DAM advisors about better money management, feel free to get in touch using their details on your member portal. 

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