Coronavirus (COVID-19), your money and your debts

LAST UPDATED: 24 March 2020

Since the Prime Minister’s recent address to the nation, life has changed drastically for many people in the UK.

If you’re worried about how the restrictions put in place to slow the spread of coronavirus (COVID-19) may affect you, we’ve put together some helpful resources. 

What you must do right now

Coronavirus poses a serious health risk, and you must do all you can to protect your health and the health of those around you. 

As well as following whatever medical advice you receive from the NHS, you should also follow the preventative measures laid out by the government. Get help from your local community if you need it.

Only once you and your loved ones are safe should you take a look at your finances. 

As we’ve always said, communication is key when it comes to your money and debts. If you’re worried about the impact coronavirus might have on your finances, make sure you: 

  • Speak to your bank, mortgage lender or credit provider so that they can assist you during this crisis
  • Make sure you stay on top of your living costs and priority bills

Our coronavirus information hub

In order to support you as best as we can, we’ve launched an online hub with resources to help you manage during this crisis. You’ll find information on: 

  • Coronavirus and your finances – What to do if you’re worried about your finances, whether they’ve already been affected by the situation, or you’re concerned they will be
  • Coronavirus and benefits – Information about benefits you could claim if coronavirus affects your finances, as well as how any benefits you currently receive could be affected
  • What creditors are doing to help if you’re going to struggle to make your usual payments as a result of self-isolation or sickness
  • Coronavirus advice for StepChange clients – We’re working closely with creditors to understand how they’ll help our clients during the coronavirus crisis and will continue to update this page regularly
  • Coronavirus-related fraud – Unfortunately, scammers and other criminals are already taking advantage of people during this crisis. Make sure you can spot the warning signs of a COVID-19 scam. 

We’ll continue to look at ways we can support you as the situation in the UK develops. We’ll also update the hub with any new information that might be useful to you. 

Can I call you for debt advice? 

In order to protect our colleagues from potential infection from coronavirus, our phone lines are currently down. We’re in the process of setting up home working for our debt advisors so that they can continue to help as many people deal with their debts as possible. This may take a few days, however. 

In the meantime, you can use our online debt advice service as normal. It’ll help you put together a personal action plan and recommend a solution for your debts. 

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