Basic DM info should be offered to struggling loan borrowers
Loan and credit card borrowers who are struggling to manage their repayments should be privy to a greater level help, advice and information.
The Citizens Advice Bureau claims that a sizeable number of UK borrowers are not receiving the type of generic debt help information that is required from the state. As a result, the charity has released details of its latest campaign, in which it hopes to bridge the information gap and provide solid financial management advice to those who are in greatest need of it.
The CAB deals with thousands upon thousands of calls from loan and credit card borrowers, who are seeking practical ways in which to control their finances. However, the charity suggests that around 15-20% of enquirers may have been able to assist themselves, if they had had a slightly better understanding of certain debt management practices before making the call.
The CAB intends to make said information readily available to all those who require it, and announced that a close working relationship with its IFA network, would allow the channel of information to flow more efficiently.
