TEN AT TEN.
UKAR ARENA | A NEWSLETTER FOR DEBT ADVISORS | AUTUMN 2015 | ISSUE 10 | UKAR-ARENA.CO.UK
10.
“WE ANTICIPATE AN INCREASE
IN DEMAND FOR DEBT ADVICE
IN THE YEARS AHEAD.”
“Our perpetual challenge is to ensure everyone who
is struggling gets the free, independent debt advice
they need. We know from research by the Money
Advice Service that only 17 per cent of people who
are over-indebted seek advice – and those of us in
the free sector have to constantly be on our toes to
make sure we are reaching an increasing number
of the other 83 per cent who are struggling alone.
This is particularly important at a time when rents are
rising and the prospect of the first rise in interest rates
in six years has been placed firmly on the horizon.
The impact of these trends on both renters and
homeowners are joined by increasing levels of
household debt and the possibility of a whole new
cohort of in-work households falling into difficulty as
a result of changes to the tax credit system.
JOANNA ELSON OBE
Chief Executive
Money Advice Trust
All of this means that despite the welcome economic
recovery, we do anticipate an increase in demand for
debt advice in the years ahead.
At the Money Advice Trust we are half way through
an ambitious three-year plan to meet the challenge
we have set ourselves of helping more people, more
effectively. Last year we helped 1.2 million people
through our National Debtline and Business Debtline
services and our Wiseradviser training programme
for advisers working in other organisations.
To achieve this we are investing in technology –
having launched new websites, improved customer
journeys and added new services such as webchat.
The biggest challenge we face is ensuring these
improvements keep up with the radically shifting
landscape of debt in the UK.
We have always been a partnership-focused
organisation, and increasing the breadth and depth
of our partnerships with creditors, other advice
agencies and organisations in other sectors is a
particular focus for us in the years ahead. We believe
that only by working together can we pilot the new
models of service delivery that are needed to ensure
that everyone who is struggling with unmanageable
debt receives the free advice they need.”
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The views expressed in this magazine are those of the contributors and do not reflect those of UKAR.
IN 2014
THE MONEY ADVICE
TRUST HELPED
1.2mil
PEOPLE
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