CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Money Advice Service commits £35 million to help more people with problem debt
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines

Headlines

 
Commercial Credit News

Headlines

 
Money Advice Service commits £35 million to help more people with problem debt PDF Print E-mail
Friday, 29 May 2015

Today, the Money Advice Service announces a £4 million year-on-year increase in funding for the delivery of free debt advice to people across England and Wales. Nearly £35 million will be committed in 2015/16.

This funding will provide for 336,000 free debt advice sessions, 52% more than in 2014/15. This means that even more people will have access to the debt advice they need whilst maintaining the quality and high standards of services delivered.
 
The advice is delivered through five lead partners; Citizens Advice, East Midlands Money Advice, Capitalise, Money Advice West and Greater Merseyside Money Advice.
 
The increase in free debt advice has also been made possible a result of a more innovative approach to delivering services, focusing on providing phone and web-based support for people whilst maintaining access to face-to-face services. This will ensure that debt advice is available to those who need it the most through the delivery channel that suits them best.
 
There is clear evidence that seeking debt advice works. Survey results suggest that 88% of people receiving advice funded by the Service acted on the advice received and 76% succeeded in reducing their debt within six months*.
 
Caroline Siarkiewicz, Head of UK Debt Advice Programme for the Money Advice Service, comments:
 
"We know how effective free advice can be in helping people escape from the spiral of debt. So we are really pleased to be able to commit an additional £4m to advice in England and Wales, enabling 50% more people to benefit.
 
“I’d like to pay tribute to the fantastic work, done day in, day out, by our partners, helping us to ensure that high quality and consistent debt advice is available for those who need it most. The funding announced today will contribute to enabling people to overcome debt quickly, helping them to stay out of difficulties in the future by providing ongoing support with money management.
 
“Only 17% of indebted people seek the advice they need so over the coming years we will continue to work collaboratively with partners, across the debt advice sector to review where services can be expanded to reach even more people.”
 
Gillian Guy, Chief Executive for Citizen’s Advice said:

"Free, impartial debt advice can be a lifeline for people who feel trapped by their money problems. Last year over 400,000 people turned to Citizens Advice for help with debt, and it is essential that people can get the support they need to address their finances.
 
“The right debt advice can transform lives, and this investment from the Money Advice Service will mean we can keep helping people across England and Wales to overcome their money woes."

(Source - Money Advice Service Press Release)
 

 
CCRI
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas
CCRI 

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards

Awards 

Tuesday 3 October - Guoman Tower Hotel, Central London


Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.


To book your place to attend, please contact Alison Lucas.


subscriptions

CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


 

Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road
Southend-on-Sea
Essex
SS1 1EP

Registered in England No: 05483197