People in Moray who are facing difficulties with debt could get greater support from Moray Council’s money advice service as a result of changes introduced by the Scottish Government.
The changes, which are being promoted through a new website, points people in the direction of approved financial advisers. In Moray that is the Council’s own money advice team.
Under the debt arrangement scheme those with debt problems can be allowed to pay of their debt at a rate they can afford – while receiving full protection from their creditors.
Interest and charges are frozen from the date of application, with the protection remaining in place so long as the debtor makes the agreed repayments each month. All agreed plans must be approved by an accredited money adviser.
George West, leader at Moray Council’s financial inclusion team, said: “We find that some people are unaware that the council runs a free, confidential and fully approved agency which offers a full range of debt solutions as well as help with budgeting if finances are a real struggle.
“Some people choose to go to fee-charging agencies but very often find their way to us as they are often unhappy with the outcome and the costs involved.”
While the government-backed repayment plan is not the best solution for everyone there is a range of solutions to improve debt situations so people don’t need to struggle on with a seemingly impossible situation.
The money advice service can be contacted on 01343 554623 or via Moray Trading Standards, 232 High Street, Elgin, IV30 1BA.