Debt advice service wins 2 awards

Tuesday, May 18th 2010

A service designed to help those in debt to negotiate with creditors has received two awards, Citizens Advice reveals.

CASHflow from the Money Advice Trust won the Credit Today Money Advice Initiative Award 2010 and the Institute of Money Advisers' Best New Debt Advice, the body states.

Joanna Elson, chief executive of the trust, explained the accolade shows how effective work between creditor and advice sectors can be.

High rates of unemployment in the UK - which rose during the recession - might be responsible for the increase in Britons who have the skills to manage negotiations for themselves when seeking debt advice.

"Projects such as CASHflow free up adviser time so that they are able to help more clients and provide greater support to clients who are unable to self-help," Ms Elson notes.

And Alex MacDermott, creditor liaison policy officer at Citizens Advice, called the scheme a "landmark" in standardising assisted self-help debt guidance.