MORE DEBT HELP AVAILABLE DURING COVID-19

SUPPORT PACKAGE FOR DEBT ADVISORS

An extra £37.8m will be available to debt advice providers this year (20-21) so they can continue to provide essential services to help more people who are struggling with their finances due to Coronavirus, minsters have announced

 
The support package, which will bring the MaPS budget for debt advice to over £100m this financial year, will help providers to deliver advice to more people in England who may be experiencing financial problems due to coronavirus. It will also help providers who have seen a fall in their income streams, enabling them to continue their vital work and supporting their staff to deliver these services.
 
The funding consists of £20.6m from the government and £14.2m raised through a one-off increase to the Financial Services Levy. MaPS will also be contributing a further £3m from their existing budget.
 
The economic secretary to the Treasury, John Glen said: ‘We know that some people are struggling with their finances during this difficult time, which is why we want to make sure people can access the help and support they need to manage their debts and get their finances back on track.
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Image by Adobe Stock from stock.adobe.com -- DATE OF ATTRIBUTION: 30/11/2024