Better Debt Advice

Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said: “The Advertising Standards Authority’s (ASA) rulings on the practices of some commercial firms are a positive and welcome development for people struggling with debt, as well as the free debt advice sector which supports these customers. “Some of the practices deployed by...

Need for debt advice to rise when Covid-19 support measures end in coming months Money guidance helplines are preparing for a rise in people needing debt advice in early 2021 with a call about debt expected at least every four minutes throughout January1 at the Money and Pensions Service (MaPS), who are anticipating that debt advice demand will grow this year due to the continued impact of...

The Money and Pensions Service (MaPS) has responded to the launch of Energy UK’s Vulnerability Commitment. Craig Simmons, head of debt policy and strategy at the Money and Pensions Service said: “When people are struggling to keep up payments on their energy bills they may be experiencing financial difficulties in other areas too, which is why it’s important that people know they...

A guide to increasing take up of the savings option on the Standard Financial Statement or its equivalent The Money and Pensions Service (MaPS) has developed behavioural science ‘nudges’ to encourage debt advice clients to save or continue saving during their debt plan. These nudges can be used by debt advisers when establishing or reviewing solutions. While not everyone’s...

Craig Simmons is Head of Debt Policy and Strategy at the Money and Pensions Service (MaPS). The past few years have certainly signalled an increasingly higher profile of debt problems in the UK. While this growth in problem debt is a very significant cause for concern, there has been the positive and wider recognition that the debt advice sector is now receiving. Those who work in...

Financial capability and debt advice have developed as two largely distinct areas of focus. However, by providing these services together there are opportunities to improve how clients respond to debt advice and build their financial capability. This report highlights the findings of research which tested different approaches to effective integrated advice delivery across channels at...

First funds will help agencies maintain pre-pandemic levels of debt advice Work has commenced to bring 500 new debt advisers into the sector The need for debt advice is expected to increase by 60% over the next 18 months The first tranche of an additional £37.8 million to fund extra debt advice and other money support for people affected by Covid-19 has been allocated by the Money and...

I’m sure like many people, here at MaPS we’ve felt the shock, uncertainty and concern caused by the COVID 19 pandemic. The past few months will have impacted all of us in some way, and MaPS has been particularly focused on the impact on people’s financial wellbeing – both in the here and now but also looking ahead to more longer-term effects. We shared back in June that we expect the...

This Mental Health Awareness Week, the chief executives of Mind and the Money and Pensions Service talk about the increasingly familiar link between money and mental health, and how the mental health and financial sectors are working together to respond to people’s changing needs during the coronavirus outbreak and beyond. Paul Farmer, CEO of Mind Money and mental health are often...

MaPS trialled a way to reduce missed debt advice appointments using behavioural science. Eight partner organisations participated in the pilot. Louise Lee from Citizens Advice Derbyshire Districts shares how it affected frontline staff, what worked, and what they would do differently. Why we joined the pilot At Citizens Advice Derbyshire Districts we’re always keen to be...

Media comment: ASA ruling

Helplines forecast a call about debt every four minutes in January

Media comment: Energy UK Vulnerability Commitment

Encouraging debt advice clients to save using behavioural science

Update on debt advice projects driving forward our Better Debt Advice agenda for change

Improving financial wellbeing through the debt advice journey

Additional £38 million for debt advice funding in England goes into action

Update on debt advice funding in the wake of Covid-19

Mental health and money: how Covid-19 could create the perfect storm

How we reduced debt advice no shows using behavioural science

Managing money in uncertain times