Government launches free money advice service
Mar 14th, 2010 | By Les Sheppard | Category: MoneyWelcome back! Have you made sure you never miss a new property? Subscribe to updates with your best email address in the sidebar to the right.You see everything new at least 48 hours before the crowd!
The government is launching its free Moneymadeclear service today which provides free financial advice across the country. The service includes a helpline, a website, and face-to-face advice delivered through firms such as the Citizens Advice Bureau and Age Concern.
The cost of the service will be funded by a levy on the financial sector and funds recovered from dormant bank accounts, though the government will pay some of the costs in the first year.
Consumers will be able to get free advice on financial problems, financial planning, or advice on their rights should they feel they are not be treated fairly.
The government has been trialling the service in the North-East and North-West since last April, which the government says has helped 500,000 consumer so far, including 23,000 who received face-to-face assistance. It is expected to help one million consumers in the next year.
Alistair Darling, the chancellor, says: “Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form; want advice about opening a savings account for your children or grand-children or you want some help dealing with repayments before they get out of hand.”
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