A policy roundtable at the UK Parliament highlighted challenges facing consumers in debt and the need for more accessible, affordable credit options
03/30/2026
For the second consecutive year, PRA Group, an ACA International member company specializing in acquiring and collecting nonperforming loans, partnered with StepChange Debt Charity, a leading UK debt advice organization, to bring together leaders across the financial ecosystem to focus on one key issue: improving outcomes for consumers facing financial hardship.
Discussions, held at the Palace of Westminster, centered on the UK’s evolving financial inclusion strategy, with a particular focus on increasing access to safe, affordable credit and better supporting households managing debt.
Ongoing research from PRA Group and StepChange showcases the complexity of financial recovery. Findings show that many consumers associate their credit scores with feelings of control and stability, while access to emergency credit plays a critical role in financial well-being. At the same time, individuals who demonstrate consistent repayment behavior may still struggle to access fairly priced credit that reflects their true risk.
“Defaulting on payments can affect credit scores for a long time, even for temporary difficulties,” said Peter Tutton, director of policy, research and public affairs at StepChange, in a press release. “We know that people recovering from problem debt remain financially vulnerable and can be pushed back into financial difficulties by lumpy and unexpected expenses.”
He continued, “There is a real need for access to safe, affordable credit. So, it is no surprise our survey data shows that people recovering from problem debt would like to improve their credit scores.”
“As a trusted partner to banks and lenders with three decades of experience helping customers resolve their debt, PRA Group is proud to work alongside StepChange to advance thoughtful, evidence-based approaches to financial inclusion,” said Owen James, president of PRA Group Europe. “By bringing together voices from across the financial sector, we can help shape policies that ensure people in financial difficulty receive the support and pathways they need to rebuild financially.”
The roundtable was hosted by Gill Furniss, Member of Parliament and chair of the All-Party Parliamentary Group for Debt and Financial Inclusion, who emphasized the importance of industry engagement as the government’s strategy takes shape.
“I am delighted that PRA Group and StepChange have brought experts and decision-makers together here in Parliament,” Furniss said in the release. “As the government’s Financial Inclusion Strategy takes shape, it is vital that key industry players make their voices heard and identify the best ways to support people who are concerned about their finances in the years to come.”
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