1 Debt: Too Poor To Pay Darren Bruce 30 October 2013

2 Money Advice Service Money Advice Services (financial capability) across the UK via web, telephone and F2F channels Debt advice – funder and coordination role Dual Role Longer-term funding for providers of debt advice Quality Framework & Evaluation Framework Common approach to assessing ability to repay via common budget Research to better understand people in debt Debt Advice Developments / Work in Progress

Rising cost of living Decrease in real-term wages Welfare reform Coping with life events Lack of knowledge about where to get free advice Client Challenges

Scale of the problem? Supply & Demand (Annually) Segmentation of debt clients (27 November 2013) Financial Capability of UK (August 2013) Habit Formation & Learning in Young Children (May 2013) Our Research

New innovations?? Should we stimulate demand for debt advice? If yes, how can we best stimulate demand for debt advice? What can be done to target families with young children and what service would they need/want? How can we work better together to treat clients holistically e.g. integrating financial capability and debt in the customer journey, joining up different services etc? Are currently debt solutions fit for the circumstances clients face? Is and under-used channel of advice? Key Questions