Money Advice Service (MAS) The Standard Financial Statement Consultation

Depth_Charge

Hi

The (or maybe a) Standard Financial Statement looking closer as the MAS consultation gets underway

https://www.moneyadviceservice.org.uk/en/static/standard-financial-statement-consultation

This development could turn out to be very significant indeed with potential implications and perhaps ramifications as a result.

Debt Management Plans along with other debt solutions and associated areas will more than likely be affected.

There are of course currently two sets of figures that are most well known - these are Stepchange & the Common Financial Statement (CFS) with the latter being much more generous in certain areas and in my opinion more realistically sustainable

The issue of one standard Financial Statement has for years been a thorny subject across the debt advice sector and it will certainly be very interesting to see how this now eventually settles (thats assuming that it will)

We are going to hear much more about this and that is a fact

My take as always

DC

fatbelly

Hi DC

Interesting - will have a look at the document when I get chance.

Is this not reinventing the wheel? What's the problem with the CFS? It's already used in Debt Relief Orders. Just tell Stepchange to use it.

Depth_Charge

fatbelly wrote: »

Hi DC

Interesting - will have a look at the document when I get chance.

Is this not reinventing the wheel? What's the problem with the CFS? It's already used in Debt Relief Orders. Just tell Stepchange to use it.

Hi Fatbelly

How are you? hope you are well

Yes, quite a few of us have been and are asking the same questions

But it is getting interesting:)

DC