A Year in Review: Tackling Debt Together
Christine Farnish CBE, Chair of the Money Advice Trust, shares her reflections as the charity publishes their latest annual report
Posted October 15, 2025
Christine Farnish CBE, Chair of the Money Advice Trust, shares her reflections as the charity publishes their latest annual report
2024 was a landmark year here at the Money Advice Trust. As cost-of-living pressures continued to affect households and small businesses across the UK, our services – National Debtline and Business Debtline – supported more people than ever before.
In numbers, that means more than 150,000 people helped with expert debt advice by our advisers over the phone, and through our digital advice tool – a significant increase of 55% on 2023. We also helped more than 47,000 people via webchat (up by a huge 78%), answering their questions about debt issues and helping them get back on top of their debts.
The surge in demand for our services reflects the growing need for support as the impact of the high cost of living, and wider financial pressures, continue to be felt, something we’ve seen throughout 2025, too.
Supporting households in financial difficulty
One of the reasons I’m so proud to chair the Money Advice Trust is because of the real, tangible impact our work is having for households facing financial difficulty. As you’d expect, our annual report sets out the detailed numbers of people we’ve helped across the year. But what’s as important is the experience and impact for each individual behind these numbers. People like Ayla*, who shares her story in the report and talks about how National Debtline ‘threw her a life ring’ at a time when she was really struggling:
“I would say that National Debtline has been my lifeguard. They chucked me the ring first, so that I could grab hold of it and stop sinking. And then slowly they pulled me in. I had to use my legs to swim and kick too because I had to put things like my budget in place. But now I have the Debt Relief Order, I’m at the shore with my daughter and I feel like I can breathe. We are safe and dry now.” – Ayla*, supported by National Debtline (name changed to protect identify).
Against a backdrop of more people struggling with the basics, and with some people’s budgets stretched to breaking point, helping people get out – and stay out - of debt is challenging. Thanks to the hard work of our dedicated advisers, nine in ten (91%) people we helped at National Debtline saw their debts reduce or stabilise as a result of our advice. And, crucially, four in five (80%) felt less likely to be in a similar situation in the future.
“Your service has possibly just saved my life… I feel so much clearer and so much more in control and I am so grateful.” – National Debtline client
Helping small businesses navigate uncertainty
Small businesses are the lifeblood of our communities and our economy, so when they face financial difficulty, the impact can be profound.
That’s why Business Debtline holds such a special place in our work at the Money Advice Trust. It’s the only service of its kind in the UK, dedicated to supporting small business owners and self-employed people through what are often incredibly tough times.
Each day, our advisers speak to people who are juggling the pressures of running a business with the realities of financial strain. These are people who’ve poured their energy, time and resources into building something and who often feel they’re facing those challenges alone.
Business Debtline is there to offer expert, impartial advice and a listening ear. And the impact of that support is clear. We hear time and again from business owners who tell us that, after speaking to us, they feel more confident, more in control and, crucially, able to keep trading.
It’s not just about resolving debt; it’s about helping people find a way forward and giving them the tools and support they need to rebuild, and I’m incredibly proud that Business Debtline is there to help them do just that.
“In 40-50 years of business, I have never come across anyone who was more helpful, more articulate and more knowledgeable [than the Business Debtline adviser]. I’m absolutely overwhelmed and appreciative of your advice. Wonderful. I don’t say that to many organisations these days. Thank you so much.” - Business Debtline client
But we don’t just want to be there for businesses in crisis. A key focus of our work going forward is on preventing financial difficulty before it happens. That includes giving small business owners the best possible chance of success when they take that brave step of setting up their own business. It’s that aim which is behind Building Up Business, an exciting new programme in partnership with Aviva, offering free online learning to help small business owners feel confident managing their business finances so that they can not just survive, but thrive. This couldn’t be more timely – especially when nearly half of small business owners say they don’t know where to turn for support with business finances. We’re looking forward to taking this work further in the years ahead.
Strengthening the sector
As well as helping people directly through our advice services, the Money Advice Trust has always believed in the power of sharing our expertise to help others – whether that’s fellow debt advice providers or creditors themselves.
In 2024, we continued to do just that. Our training and consultancy work has gone from strength to strength, with more than 30,000 training places delivered to staff across 50 creditor organisations. That’s 30,000 opportunities to improve how people in vulnerable circumstances are supported – and it’s been wonderful to see the impact of this work recognised, including winning the Excellence in Training award at the 2024 Collections and Vulnerability Awards.
One of the real highlights for me has been our Vulnerability Academy, which we run in partnership with UK Finance. Now in its fourteenth cohort, the Academy has supported over 200 professionals to deepen their understanding of vulnerability and drive meaningful change in their organisations.
What really stands out is the feedback we receive. Among people trained through our Wiseradvice service, an incredible 99% of participants told us that our training helped them deliver better outcomes for their clients. That’s not just a statistic – it’s a reflection of the real-world difference this work is making.
“[When] I have had clients with bailiffs standing outside their property, I was able to apply what I had learnt to their situation to advise there and then. I’ve also had a client who was a victim of financial and domestic abuse - the recent Wiseradviser course I had done helped me deal with this.” - Wiseradviser trainee
Looking ahead
While I’m proud of our impact, we know there is more to do, given there are eight million people in the UK in need of debt advice. That’s why we’re developing a new strategy to transform our services, broaden our reach, and help prevent financial difficulty before it begins. As we enter this new chapter, we remain committed to supporting people to tackle their debts and get back on track.
I’d like to share my profound thanks to all our partners, without whom this work would not be possible. As we look ahead, we are excited to continue collaborating with you to build a future where everyone can access the support they need.
