Charity welcomes financial advice plans

The Citizens Advice charity has welcomed the government’s plan to offer consumers across the country access to a generic financial advice service.

According to the organisation that helps thousands of people ease their debt management woes each week in the UK, the introduction of such a service is “extremely important”.

British consumers of all ages are finding it tough to become debt free or to avoid seeing their financial difficulties spiral out of control, Citizens Advice suggests.

A statement from the organisation read: “Today more than ever before people need access to free, impartial financial information and advice so that they can plan for their and their family’s future effectively and avoid risks of debt problems.”

Everyday, credit consumers in the UK pay around £258 million in interest to service their collective debt management burden, according to Credit Action’s latest figures.

By Frank Charlton