Armed forces debt help 'a success'

11/12/2009

The Benefits and Money Advice Service is proving successful in helping current and former servicemen with money problems and financial knowledge, an update from the scheme suggests.

According to the report, the service has seen 8,100 people and given help for a total of over 37,000 different problems since it was launched in December 2007.

Funding for the Benefits and Money Advice Service is provided by armed forces The Royal British Legion (TRBL) and the RAF Benevolent Fund (RAFBF) and there are currently a total of 49 advisers participating in the scheme.

All but seven of these are based in Citizens Advice Bureaux, while the remainder are based in TRBL offices.

The update claimed that the servicemen have saved a collective £19.2 million by using the scheme.

Sir Rob Wright, controller of the RAFBF, said: "It's immensely gratifying to see how many people the Benefits and Money Advice caseworkers have helped in such a short period of time, especially at a time when the economic downturn is only adding to the pressures on veterans and serving families.

Chris Simpkins, director general of TRBL, added: "Given the financial difficulties many people across the UK are currently experiencing, it's more important than ever that holistic services, such as this, exist for the serving and ex-Service community."

Tags; Budgeting Advice, Young Family Finances, Credit Card Lifestyle, Recent Graduate Debt,

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