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DEBT ADVICE PILOT PROJECT GOES LIVE ACROSS THE UK

Currently, demand for debt advice outstrips capacity and advisers are seeing more clients who are able to work on resolving their own debt problems.20-01-2010

National debt advice charity the Money Advice Trust is working in partnership with lenders, the debt collection industry and the advice sector to develop a streamlined, self-help debt advice service to increase the availability of debt advice. This initiative is being funded by The Department for Business Innovation & Skills.
 
Joanna Elson of the Money Advice Trust has stated “The CASHflow, self-help route will enable people in financial difficulty to ‘self-help’ and will free up advisers’ time to work with clients who require on going face-to-face support. This week, the pilot project goes live in 24 advice agencies across England, Wales, Scotland and Northern Ireland, which we expect will help many more people with unmanageable debt going forward”.
 
Kevin Brennan MP, Minister for Consumer Affairs welcomed the initiative saying: “The Government is determined to put consumers back in the driving seat of their finances. CASHflow is an important project giving people who are having difficulty dealing with their debts access to a streamlined web-based, phone and face-to-face advice service to help them to help themselves."
 
CASHflow is an assisted self-help debt advice resource, which will support clients to make repayment offers directly to their creditors, with assistance from a third-party money advice agency.  
Important features of CASHflow include;
 
•         Use of a logo that will be easily recognised by both lenders/creditors and clients to provide reassurance that the advice provided is independent and that clients have received holistic money advice.
•         Consistent working practices and standards of advice across all CASHflow advice providers.
•         An agreement from lenders/creditors to treat offers made by people using CASHflow in the same way as those made by third party debt advice agencies.
•         Development of a streamlined advice process which should free up advisers’ time to deal with other clients whose debt problems are not easily addressed through the assisted self-help route.           
 

If you think CASHflow could help you ask at your local advice agency such as the Citizens Advice Bureau. 

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