Pilot of Adviser Capacity and Efficiency (PACE) is a technology-focused pilot to simplify how people access and experience the debt advice journey, while increasing efficiency to allow us to help more people in need to receive free debt advice.
PACE will be delivered by the ‘Money Adviser Network’, a new support network developed in partnership with MaPS, where customers will be engaged with specialist teams of expert debt advisers from a range of high quality, free and impartial debt advice agencies.
Starting in March 2020, the first phase of PACE will be testing three key innovations:
17.2% of UK adults are over indebted – around 9 million people. Of these, only 32% have sought or are seeking debt advice.
The Independent Wyman ReviewOpens in a new window (PDF, 11.6MB) put the gap between the supply and demand of debt advice at approximately 600,000 people per year.
In collaboration with the sector, we want to tackle this and better support the increasing number of people in the UK who struggle with problem debt by:
The first phase of the pilot will run for approximately nine months where we will test, learn about and refine the three innovations and discover if they work well for customers. Dependent on the findings of this first phase, we currently intend to run a second phase from early 2021 which will operate with better integrated technology and which will include a larger number of referring creditors and debt advice partners.
“This innovative scheme will help people struggling with debt get the right advice at the right time. Working together – and enabled by technology – debt advice charities will be able to give even more rapid and efficient support to those with problem debt.”
Dame Gillian Guy, Chief Executive of Citizens Advice
“The PACE pilot is an exciting opportunity to streamline the client journey in to debt advice. It is crucial that people in financial difficulty have access to the advice they need, through the most appropriate channel for their situation as early as possible.”
David Cheadle, Chief Operating Officer at the Money Advice Trust
“Ensuring that people in problem debt know that there is help is out there is vital. Too many people wait too long to seek the support they need because they don’t know what their options are. The PACE pilot is one of the ways that our creditors and partners can signpost more people to the help that they need.”
Vikki Brownridge, Director of Charity Development, StepChange Debt Charity