Important Coronavirus Update
Many people in the UK face uncertainty as the Coronavirus (Covid-19) situation further develops, not least when it comes to their financial wellbeing.
I wanted to take the time to reassure those we work with that we are taking all necessary steps and precautions to ensure that the vital services we - and our many partners - deliver remain available to people who need to access them.
With that in mind, I have outlined some of the measures we are taking on debt advice referrals and capacity.
The Money and Pensions Service (MaPS) has convened an external task force made up of StepChange, Citizens Advice, Money Advice Trust, UK Finance and the FCA, to build a coordinated approach to public financial guidance in response to the Covid-19 outbreak.
For financial guidance, creditors are now able to signpost to the following Money Advice Service resources.
Coronanavirus and your money:
Coronavirus and what you are entitled to:
In addition, MaPS is currently working with the debt advice sector to:
Maintain the current supply of debt advice, including enabling more debt advisers to work remotely
Anticipate supply and demand beyond the immediate-term and consider capacity requirements over next 12 months and beyond
Plan for large scale recruitment and training of new advisers, to meet increased demand due to the economic downturn post COVID 19.
To protect the health and wellbeing of debt advice advisers and to avoid the spread of the virus there has been a significant reduction in the availability of face-to-face debt advice in the sector.
Creditors should be aware of temporary issues with their signposting processes. MaPS are actively working with face-to-face debt advice agencies to help maintain services via telephone and digital channels.
The Money Advice Service Debt Advice Locator Tool is currently highlighting the disruption to face to face services and driving customers to other channels:
Throughout this period, our focus will remain on delivering for our customers to ensure they can access free and effective advice and guidance, and we look forward to continuing to work with you to that end.
Creditor Engagement Manager, Money and Pensions Service
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