Publisher's Synopsis
In Britain today over two million families are experiencing difficulty with meeting credit commitments and everyday living expenses to such an extent that they are defaulting upon money owed. In response to this household debt, a range of money advice services has developed to offer specialist advice and counselling to people with financial difficulties. This study charts the growth in personal credit and debt and offers an economic and social evaluation of money advice services. It includes findings from a two-year evaluation of the costs and benefits of money advice to private sector creditors, local authorities and clients with debts. It concludes that money advice services generate considerable financial as well as social benefits and should be funded by both the private and public sectors out of "enlightened self interest".