Tackling Debt Levels

Fife MP hopefuls are being urged to place tackling debt at the heart of their campaigns.

More than 450 people in Fife contacted the Money Advice Trust for support between 2013/14. It's estimated the average amount of debt in north east Fife currently rests at nearly £13, 000.

Research shows that only 17% of people with unmanageable debt in the UK seek advice. The Money Advice Trust says that higher awareness of free debt advice could 'mean the difference between financial recovery and financial disaster' for thousands of people.  After contacting National Debtline, 82% of people say they feel more in control and knowledgeable in managing their money.
  
Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said:
 
“Whoever is elected as on 7th May needs to put promoting free debt advice in the area near the top of their to-do list after the General Election.  While National Debtline has given nearly 200 advice sessions to people in Dunfermline and West Fife in the last two years, we know that potentially thousands more are suffering in silence. 
 
“MPs can play a crucial role in the fight against problem debt – not only by directing people who come to them for help to the free advice they need, but also through raising awareness of services such as National Debtline in the local community.
 
“Our message to anyone who is struggling to cope with problem debt is simple: seek free advice from a debt charity such as National Debtline as soon as possible.  The earlier you seek advice, the quicker and easier the problem will be to solve.”