Government to Fund Debt Counselling
£45 million over 3 years will pay for hundreds of new debt advisors
7th April 2006
The government has announced major new funding to provide more face to face debt advisors, with the aim of helping people cope with their debts without turning to loan sharks or otherwise getting into even deeper trouble.
Of the £45m earmarked over the next 3 years, £33m will go to the Citizens' Advice Bureaux will will use the cash to train and employ nearly 400 new debt counsellors able to give face to face advice to around 100,000 debtors across the country.
The CAB was chosen as a major channel for the funds as research has shown that they have a higher proportion of poorer clients compared to other debt services, and it is this section of the population that the government hopes to help as part of its committment to financial inclusion.
Read More: Citizens Advice service gets major new funding to provide more debt help
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