FSA looks to help debtors
(12 January 2006)

The Financial Services Authority (FSA) has developed an online "debt test", which effectively acts as a one stop service to help consumers keep a rein on their borrowing.

Developed in collaboration with both the BBC and credit rating agency Experian, the website will provide information and feedback about users' debt levels, tips on how to nip potential credit issues in the bud and help with tackling existing debt problems.

Accessible via the FSA's website, and that of the BBC, the service is delivered as part of the National Strategy for Financial Capability, which helps to increase consumer confidence in dealing with money issues.

Vernon Everitt, the FSA's director of retail themes, commented: "Managing debt effectively is one of the most important things any of us have to do to keep control over our finances.

"The debt test is a useful tool to help consumers gain a fast overview of their borrowing, avoid debt becoming problematic and sort out what to do if it is already causing concern."

If you want to be sure that you're keeping a close eye in your monies owed but still need some short term cash, a payday loan – which you'll receive within 24 hours of your online application – is as uncomplicated a service as you will find.

Borrowing between £80 and £1,000, your cash advance will not lumber you with a huge debt and can be easily tracked until your next payday, when you make a clearly-defined repayment.


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