Press release: Debt advice works for nine out of ten over-indebted people
8 August 2014
Debt advice works for nine out of ten people struggling with serious financial problems according to the latest figures from the Money Advice Service.
Independent evaluation of debt advice funded by the Money Advice Service in England and Wales shows that 88% of clients who received face-to-face debt advice from its partners in 2013, went on to take a positive action such as making reduced payments to creditors, or setting up a household budget to address their debt situation.
As a result, 76% reduced or cleared at least some of their debts within three to six months of receiving advice. Six per cent were able to pay off their debts in full.