Credit Strategy
LinkedIn
Twitter
0 £0.00
This item was added to your basket

Dear visitor,
You are viewing 1 of your 2 free articles


To view more free articles, please register

Free registration or Login

Chief executive to leave StepChange

Mike O’Connor, chief executive of StepChange Debt Charity, will leave the organisation later this year.


Amber-Ainsley   Pritchard

Share on Twitter Linkedin black
Amber-Ainsley   Pritchard
Share on Twitter Linkedin black
Mike O’Connor, chief executive of StepChange Debt Charity
Mike O’Connor, chief executive of StepChange Debt Charity

He has been with the free advice charity for nearly four years and was previously a non-executive member of the customer fairness committee at British Gas.

 

StepChange has now began the process of recruiting a successor which is likely to take until the end of the year and O’Connor will remain in the position until then.

 

The charity helped 600,000 people last year – equating to one person every 53 seconds. This figure increased by nine percent from 550,000 in 2015.

 

The profile of the charity’s client base has also changed. Around 60 percent of all clients are aged under 40 compared to five years ago when this figure was only at eight percent.

 

During his time in the position as chief executive, O’Connor has called on creditors to introduce “breathing space” for customers. The charity has lobbied for a scheme that allows debtors to repay their debts in full, with charges frozen, through a debt payment programme over an extended period.

 

Since this campaign was launched, both the Conservative and Labour parties have pledged to introduce breathing space as part of their manifestos for the upcoming election.

 

O’Connor has welcomed this and said the next government should work to ensure better alternatives to dangerous forms of high-cost credit are available.

 

He added: “With consumer borrowing back at levels not seen since the economic crisis and continuing to grow strongly, the next government needs to commit to a concerted effort to tackle problem debt.”

 

On leaving the company, O’Connor said: “I have enjoyed working at the charity. Looking back, I have seen people who get into problem debt blamed. I hope we can help increase understanding of the true causes of problem debt and demonstrate that helping people when they are in trouble, however they got there, is not only good for them but their families, their communities and indeed our economy.

 

"Looking forward, the current growth in personal debt, inflation and stagnant wages will, I fear, mean that the need for free debt advice will grow and charities like StepChange, working with creditors, will be even more needed in the future."

Share on Twitter Linkedin black
Add New Comment

YOU MIGHT ALSO LIKE


LATEST IN ANALYSIS


The CS Interview

The patriot

The patriot

Features

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award
Share on TwitterLinkedin black

Ahead of the curve: Five reasons why Intelligent Environments secured the Best Collections Technology Award

Opinion

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

"There are upcoming opportunities for both government and regulators to step up and deliver meaningful change"

Bank NPL analysis

Banks continue purge of bad debt from balance sheets

Banks continue purge of bad debt from balance sheets

Events

Credit Week 2018

Credit Summit

CDSP European NPL

Women in Credit Awards 2018

ENJOY READING?

Credit Strategy
LinkedIn page

Did you find our website useful?

Thank you for your input

Thank you for your feedback

creditstrategy.co.uk – an online news and information service for the UK’s commercial and consumer credit industry. creditstrategy.co.uk is published by Shard Financial Media Limited, registered in England & Wales as 5481132, Axe & Bottle Court, 70 Newcomen St, London, SE1 1YT. All rights reserved. Credit Strategy is committed to diversity in the workplace.
@ Copyright Shard Media Group