DAF News

Charity Launches UK’s First Debt Education Centre

Debt Advice Foundation has funded the development of a ground-breaking initiative that aims to improve financial awareness through education.

The funding has enabled Southlands High School in Lancashire to launch a Debt Education Centre, which will help pupils and the wider community get to grips with money matters.

Third Edition Of Money Diaries Educational Initiative Launches

We’ve teamed-up with a trio of talented high school pupils to publish an innovative money guide for students who are planning to go to university, as part of our educational Money Diaries project.

The pupils, who are from Southlands High School in Lancashire, have now created the third publication in our Money Diaries series - focusing on the financial challenges of going to university.

Call For Government Debt Advice Strategy Overhaul

A damning report into the failings of the Government’s multi-million pound debt advice strategy has highlighted the need for a new approach in tackling the UK’s consumer debt crisis.

As a national debt charity that has demonstrated the benefits of sustainable, self-funded debt advice, which does not rely on public funding, Debt Advice Foundation is calling on the Government to rethink its initiative.

Household Debt Continues To Rise

Britons now owe more money than the value of the entire country’s annual produce according to the latest figures from Credit Action. Average UK household debt including mortgages, is now £58,083.The typical adult owes £30,328 including repayments on their home - 132% of average earnings.

Debt Charity Urges Brits To ‘Spring Clean’ Their Finances

Debt Advice Foundation, a national debt charity, finds that people often fall into the pitfalls of debt because of money management issues – and is therefore calling on people to spare some time for their finances.

Many Still In The Red As The Green Shoots Of Economic Recovery Start To Show

According to research carried out by the British Banker’s Association, £1.3bn in consumer loans was issued in February 2010, which is an increase of £100m on the previous month and the highest on record since September 2009.

New Initiative Provides Welcome Relief For Consumers

A new initiative to tackle interim periods of consumer insolvency has been announced by the Ministry of Justice that will allow struggling consumers to make minimal token payments until their financial situation has recovered sufficiently to reinstate contracted repayments terms. In return, they will be given breathing space by their creditors, who will agree to freeze interest for the length of the arrangement.

New Industry Statistics Highlight Need For Tighter Debt Advice Regulation

Recent industry research on Debt Management Plans (DMPs) has revealed the financial nightmare many consumers are facing due to ill-advised debt solution schemes – further reinforcing the need for a new regulatory framework for debt advice providers.

Overindebted Consumers Reluctant To Share Financial Problems With Their Partner

Research carried out by debt advice charity Debt Advice Foundation has revealed 47% of people struggling with debt are hiding their financial problems from loved-ones, with 21% claiming they’d been burdened with their partner’s debts.

Charity Launches Online Debt Tools As Personal Insolvency Reaches All Time High

With personal insolvency at an all time high, national debt charity Debt Advice Foundation has launched an online debt tools section to combat Britain’s spiralling debt problems.

Figures released today show that 134,142 people became insolvent in the UK during 2009 and a report from the National Audit Office has highlighted that traditional sources of debt advice are struggling to cope with demand.