Help is available to deal with your financial worries, says The Consumer Council

The Consumer Council is looking to provide practical help to households that are struggling financially during this COVID-19 crisis.

This help follows on from The Consumer Council’s “True Cost” campaign, which provided free online support on:

  • Sources of free, independent and confidential debt advice;
  • Alternative credit providers, including Credit Unions, Scotcash and FairForYou; and
  • Advice on being proactive and seeking advice early before debt becomes an issue.

Scott Kennerley, Director of Financial Services at The Consumer Council, said: “We launched our True Cost campaign, just prior to the COVID-19 crisis, to help raise awareness of the practical help that is available for households struggling with their finances.

“In the first two weeks of the campaign, we reached nearly 110,000 consumers online, distributed over 58,000 informational leaflets to households and received support on social media from Football Clubs including Cliftonville, Coleraine, Derry City, Glentoran and Linfield.

“We worked with the Credit Unions and organisations, such as Scotcash and FairForYou, to provide access to alternative forms of credit, which could help save consumers up to £338 on a loan of £500.” [1]

Scott added: “As the COVID-19 crisis has had such a negative impact on many people’s finances, we are continuing to highlight the practical support and help that is still available through our True Cost webpage: www.consumercouncil.org.uk/truecost.”

Notes:

  1. Saving based on figures provided by Scotcash on a loan of £500 repaid over 6 months. Further information is available here.
  2. The Consumer Council is authorised and regulated by The Financial Conduct Authority to act as a credit broker. Our Firm Number is 913082.
  3. The Consumer Council’s True Cost campaign was launched on 9 March 2020.
  4. The Consumer Council also has other helpful tools and resources for consumers, including a free online interactive budgeting tool and a COVID-19 personal finances webpage
Last updated 4 months ago