New Financial Health Service in Scotland

New Financial Health Service in Scotland.

In Autumn, the Scottish Government is to launch a Financial Health Service.

The FHS is targeting consumers that debt concerns or are getting themselves into debt via payday lenders.

One of the objectives is to reduce the number of payday lenders in Scotland as numbers are growing.

The guidance website will be launched in Autumn 2014.

Comment

What a total waste of money and resource.

• There is already a National Debt Helpline
• There is already the Money Advice Service MAS (funded by the financial services industry) – “Talk to Ma”

Whilst we have not seen the content of the FHS’s website or guidance, we cannot see that it will add any more value other than duplicating what is already available to all UK consumers.

We understand from published figures that MAS already takes the majority of its calls from people with debt problems and the National Debt Helpline clearly is geared up for helping people with debt.