debt

Money problems can cause mental health problems, and mental health problems can cause money problems. This Mental Health Awareness Week policy, insights and external engagement director Sarah Porretta shares four of the ways that the Money and Pensions Service (MaPS) helps customers caught in this spiral, and how your organisation can help us reach more people. Money and mental health...

Pilot will help people in England access Mental Health Crisis Breathing SpaceIt will join up healthcare services with the debt advice sectorIt forms part of the £94.6m in debt advice funding from the Money and Pensions Service in 2021/22 The Money and Pensions Service (MaPS) has launched an innovative new pilot to help people in mental health crisis avoid worsening debt problems, as part...

This Debt Awareness Week, Craig Simmons, head of debt policy and strategy at the Money and Pensions Service (MaPS), provides an update on MaPS activity to drive forward better debt advice. On the verge of a new financial year, organisations across the UK are no doubt deep in thought about their budgets for the year ahead. While entirely true for the debt advice...

In 2019/20, the Money and Pensions Service (MaPS) ran a collaborative improvement project working with supply chain partners to transform the way MaPS – funded debt relief order (DRO) units process DRO applications. In running this project, MaPS, alongside Citizens Advice and Citizens Advice County Durham, were able to: significantly improve customer satisfactionreduce the...

Following the publication of the Woolard Review: A review of change and innovation in the unsecured credit market, MaPS Chief Executive Caroline Siarkiewicz commented: “The proposals to bring Buy Now Pay Later under regulatory scrutiny would provide further protection for people to avoid the potentially harmful consequences of this form of borrowing which can result in people spiralling...

Influencing creditor support for people in financial difficulty We have an ongoing strategic objective to influence more consistent creditor support for those with debt problems. A supportive approach to debt recovery provides a range of benefits for any organisation collecting debts. Creditors that work in partnership with the debt advice sector tend to achieve fairer outcomes, better...

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...

Before the UK entered lockdown, we issued a notice to our stakeholders to share how we were continuing to deliver services for our customers, collaborate with partners and prioritise the wellbeing of MaPS employees. Six weeks on, MaPS CEO Caroline Siarkiewicz updates on our response to Covid-19. The current pandemic is not just hitting people’s physical health...

Four ways MaPS helps customers with money and mental health problems

New £2.4m pilot for people in mental health crisis to help avoid spiralling debt

Debt advice budget update

Transforming debt relief order administration

Media comment: Buy Now Pay Later/Woolard Review

Working collaboratively with debt advice agencies: a strategic toolkit for creditors

Media comment: ASA ruling

Helplines forecast a call about debt every four minutes in January

Media comment: Energy UK Vulnerability Commitment

Personal finances and the impact of coronavirus – the role of the Money and Pension Service

Managing money in uncertain times