Households across the United Kingdom are being warned they could be missing out on a staggering £24 billion in unclaimed financial support each year, as new figures reveal a sharp increase in people seeking debt help over the festive period.
Festive Period Sees Debt Advice Surge
According to the free debt advice service Money Wellness, the pressure of the ongoing cost of living crisis drove thousands to seek help between Christmas Eve and New Year's Day. The organisation reported that 6,083 people contacted them for debt assistance in the three days from Christmas Eve to Boxing Day.
This trend continued into the New Year, with a further 5,820 individuals reaching out between New Year's Eve and New Year's Day. This represents a significant 14 per cent increase compared to the same period last year. Furthermore, the charity's website saw 3,994 visits over Christmas Eve, Christmas Day, and Boxing Day from people searching for guidance on unmanageable debt.
Regional Breakdown of Searches for Help
The search for support was nationwide, with London recording the highest number of people looking for help at 1,835. The Midlands followed with 461 searches, and the North West saw 310, with Manchester and Liverpool being the cities with the most activity.
Other regions also showed concerning figures:
- Yorkshire: 202 searches
- East of England: 183 searches
- South West: 175 searches
- North East: 101 searches
- Wales: 88 searches
- Scotland: 66 searches
- Northern Ireland: 66 searches
"The Cost of Living Crisis is Far From Over"
Sebrina McCullough, Director of External Relations at Money Wellness, highlighted the worrying trend. "We always see an increase in the number of people seeking free debt help in January after Christmas debt repayment demands land," she said.
"But this year we’ve seen an increase in the number of people seeking support over the festive period itself, with around 700 people starting our online debt advice journey over the three days. This is the result of continued pressure on household finances."
McCullough issued a stark warning for the months ahead: "With energy bills set to rise again in January and other essential bills to go up in April, we believe the New Year could be particularly challenging for millions of households. The cost of living crisis is far from over."
Act Early and Check for Unclaimed Support
The charity strongly encourages anyone experiencing financial strain to seek advice as soon as possible, noting that early intervention can prevent problems from spiralling. A key message is that millions are leaving vital money unclaimed.
"Millions of people miss out on money they’re entitled to each year – in fact, around £24 billion goes unclaimed annually in the UK," a spokesperson stated.
They advised: "Checking what support you’re eligible for, like benefits, tax credits, or grants, could free up extra cash and ease your budget. It’s worth taking the time to make sure you’re not leaving money on the table. You can do this in about 5 minutes using the Money Wellness free online benefit checker."
