Caroline Siarkiewicz, Chief Executive of the Money and Pensions Service said:
“This latest ruling from the Advertising Standards Authority (ASA) is a welcome development for those who are struggling with debt. This type of advertising has the potential to refer people to a debt solution that may not be suitable for their circumstances and lead to further problems down the line.
“We know that people struggling to keep on top of bills and payments can often feel overwhelmed, and so it’s really important that people know that free impartial debt advice is available, and where they can find debt solutions that are right for them and tailored to their individual circumstances.
“Free debt advice can be life-changing – our research shows that 63% of people with debts are reducing or clearing them within three to six months after receiving free impartial debt advice. Anyone who is worried about their money situation can visit the Debt Advice Locator Tool on our MoneyHelper website to find free high quality debt advice to help get back their finances back on track.”
About the Money and Pensions Service
The Money and Pensions Service (MaPS) is here to ensure every person feels more in control of their finances throughout their lives: from pocket money to pensions. When they are, communities are healthier, businesses are more prosperous, the economy benefits, and individuals feel better off. MaPS delivers free and impartial money and pensions guidance to the public through MoneyHelper, which recently brought together legacy services the Money Advice Service, The Pensions Advisory Service and Pension Wise.
MaPS is working to make sure the whole of the UK understands that financial, physical and mental health are all deeply connected. MaPS’ role is to connect organisations with the shared purpose of achieving the five goals set out in the UK Strategy for Financial Wellbeing.
MaPS supports innovation so that everyone can use the most effective methods to help people feel more in control of their money, targeted to those most in need and inclusive of people from all backgrounds. MaPS is an arm’s-length body sponsored by the Department for Work and Pensions (DWP).