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  • FIRST POST
    • MSE Luke
    • By MSE Luke 16th Mar 16, 11:47 AM
    • 287Posts
    • 79Thanks
    MSE Luke
    MSE News: Budget 2016: Money Advice Service to be replaced
    • #1
    • 16th Mar 16, 11:47 AM
    MSE News: Budget 2016: Money Advice Service to be replaced 16th Mar 16 at 11:47 AM
    The Money Advice Service is to be replaced by a new "slimmed down" guidance body...
    Read the full story:
    'Money Advice Service to be replaced'

    Click reply below to discuss. If you havenít already, join the forum to reply. If you arenít sure how it all works, read our New to Forum? Intro Guide.
    Last edited by MSE Luke; 16-03-2016 at 2:35 PM.
Page 1
    • sourcrates
    • By sourcrates 16th Mar 16, 12:03 PM
    • 18,466 Posts
    • 17,364 Thanks
    sourcrates
    • #2
    • 16th Mar 16, 12:03 PM
    • #2
    • 16th Mar 16, 12:03 PM
    Obviously wasnt working anyway judging by the large amount of people who are out of pocket due to compass going bust.

    People just arnt getting good advice it seems.

    Serious action is needed to inform people of free alternatives to fee charging debt management companies, that's where efforts need to be doubled.
    Needs to start with search engines promoting free charity advice services above commercial fee charging vultures.

    Also the law needs changing so that all fee charging DMC's have to tell you a free alternative exists, before attempting to sell you there so called service.

    Only then will the playing field be level.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".

    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views expressed are mine and not the official line of MoneySavingExpert.com.

    Helping you deal with problem debt.

    For free debt advice, contact either : Stepchange, National Debtline, CitizensAdviceBureaux.
    • alicon
    • By alicon 16th Mar 16, 1:42 PM
    • 2 Posts
    • 0 Thanks
    alicon
    • #3
    • 16th Mar 16, 1:42 PM
    • #3
    • 16th Mar 16, 1:42 PM
    It absolutely was working! I am funded by this project to provide FREE debt advice to those who are in court, about to lose their homes. I am a Debt Advisor, have been working as one for years and know that this service is valuable.

    Many people don't realise that The Money Advice Service provides funding to various projects, like mine, Who are there to help people when they are stood in court, facing their lender/landlord, about to lose their home.

    The government have no regard for the hundreds of advisers, up and down the country, who are going to lose their jobs.

    Also, it is a requirement (In Scotland atleast) that Fee Charging 'Debt Management Firms' make every client aware of free providers. And they have to provide an information leaflet to every 'customer' to that effect.
    • fatbelly
    • By fatbelly 16th Mar 16, 6:39 PM
    • 14,219 Posts
    • 11,238 Thanks
    fatbelly
    • #4
    • 16th Mar 16, 6:39 PM
    • #4
    • 16th Mar 16, 6:39 PM
    Well, I agree with both of you!

    As a whole, MAS was appalling. It took a large sum from the finance industry and spent too-large a proportion on itself (directors, tv ads and an uninspiring website come to mind)

    It then gave half of the remainder to 'money advice' and I'm not really sure where that went. (To A4E in the early days, then it seems to have all got a bit blurred. I really dislike the separation of 'money' and 'debt' advice - I think pushing those terms set the advice world back a decade)

    The good part was that the other half of the remainder went to 'debt advice' and funded some useful work that, while there were still some issues, was pretty well managed. It sounds like Alicon, like me, is funded under that part

    It appears that last bit will be retained as part of a smaller, less self-serving, organisation.

    I would expect the present MAS initiatives to drag even more following this announcement. It's unlikely that the Peer Review scheme will ever be fully rolled out, at least in its present form, and no-one knows when the Standard Financial Statement will arrive or if the Common Initial Assessment will survive.
    Last edited by fatbelly; 18-03-2016 at 7:48 AM.
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