| Date -06 Mar 2008 | Return to previous page |
More than 500 new clients sought help from the Moray Money Advice Partnership last year - and the year ahead is likely to be at least as busy.
The partnership, which is made up of Moray Council trading standards section’s money advice service and Moray Citizens Advice Bureau, helps people to deal with a range of debt problems by providing free, confidential and impartial advice.
New bankruptcy laws which come into force next month will increase the range of options available to those with serious debt problems.
They will allow many more people on low incomes and with low assets to apply for bankruptcy. In addition, the normal term for bankruptcy will be reduced from three years to one year to bring Scotland into line with England.
As a result there is expected to be a large increase in the number of people applying for bankruptcy in Scotland.
Money advice team leader George West said: “People very often find it hard to come in and discuss their situation but you can see the relief on some faces when they realise they cannot go to prison for consumer debt or have essential assets like furniture removed from their homes. Sometimes even a brief phone call can help set their mind at rest.”
The public have also been warned to be cautious about signing up with companies offering debt solutions.
“There are quite a number of firms advertising debt solutions who make up-front charges or take a percentage of repayments, and sometimes both,” said Mr West.
“It is vitally important that people who are struggling financially are aware of the services available to them and anyone seeking help should be careful what they sign up for.”
The Moray Money Advice Partnership can be contacted via the Moray Council trading standards section at 232 High Street, Elgin (tel 01343 554623) or Moray Citizens Advice Bureau at 30-32 Batchen Street, Elgin (tel 01343 550088).