News

6 Nov 01

Managing Your Money - How To Get Help

Poole residents will be able to benefit from expert advice on managing their money during National Consumer Week on 12 - 17 November 2001.

The Borough of Poole has joined with local agencies to form a Consumer support Network and as part of this they are offering advice on problems associated with money, credit and debt. The focus by the Trading Standards Institute aims to educate consumers and direct them to the most appropriate place for advice, such as Trading Standards, CAB and local money advice projects.

Peter Pawlowski, Head of Consumer Protection Services, Borough of Poole, said: "We want to raise awareness in Poole to help protect our residents in the future. By working with local agencies we can provide a joined-up advice service for consumers in trouble and point them in the right direction to agencies that can help. Knowing where to turn before a situation escalates into one which may put a consumer heavily into debt is very important and could even prevent repossession of a home. Our Consumer Advice Service advises consumers to shop around for credit in the same way that they would compare prices when buying a TV."

Councillor Bob Williams, Executive spokesperson for Environment and Prosperity, said: "Every year thousands of people get themselves into debt, or into situations involving credit agreements that they don't fully understand. Local advice services are inundated with distressed consumers who don't know where to turn, they may not know that free advice is available locally. Budgeting skills learned at a young age will help protect our young people from getting into spiralling debt as adults, by educating young people about debt we can help them along the difficult road of managing their finances. These services are now available in Poole and by raising awareness we can make sure people are informed and hopefully help to keep them in control of their finances, something everyone should be encouraged to do."

Free Advice is available from the following local agencies:

Consumer Protection Services, Borough of Poole

Look at the activities of unlicensed money lenders: 'loan sharks' that may not have a credit licence, don't operate legally and often offer unmanageable loans. APR's (Annual Percentage Rates) can be way in excess of normal rates offered by legitimate traders, sometimes as high as several hundred percent! If borrowers fall behind with payments some unscrupulous traders put unnecessary pressure on the borrower, i.e. sending threatening letters or letting neighbours or relatives know that the person is behind in their repayments. Harassment like this can be investigated by Consumer Protection officers and the trader may be liable to prosecution.

Regularly check credit advertisements in newspapers or shops. If an advert doesn't comply with the law, the trader will have to change the advert or run the risk of being taken to court for breaching advertising regulations. Consumers should have the correct information to make an informed choice and Consumer Protection or Trading Standards Service should be advised if credit deals that are misleading are seen.

Poole Citizens Advice Bureau

Provides free and impartial money advice. The CAB employ a specialist money adviser and number of volunteer workers who use a structured process which enables individuals to take control of their debts. They can help identify problems, improve management of finances, advise on how to negotiate and respond to court actions etc.

Richard Bristow from Poole Citizens Advice, said: "The most important thing for debtors is not to panic, the problem should not be ignored or payments stopped without talking to the creditor. Creditors can often be more understanding than people expect and we can help people understand this as well as helping them through the money problems they have."

The Turlin Moor Money Advice Project

If you live in the Hamworthy area help is at hand from this community charity that was set up in 1990 to help residents with financial difficulties. General information and advice is provided on help with form filling, budgeting, welfare benefit enquiries and debt. The project is open Monday to Thursday 9.30am - 12.30pm at St Gabriels's Church, Keysworth Road, Poole.

The Quay Advice Centre

This centre offers information and advice to young people under 25 years on a wide range of topics and issues. For financial advice they offer support with budgeting, basic help with negotiating problems with smaller debts and referring on to appropriate agencies that can help when necessary.

The University Student Advice Centre

Offer a free and confidential advice service to students at Bournemouth University.

Marina Lowrie from the University Student Advice Centre, said: "If students are worried about money they can call in and have a chat with one of our advisers who can help them budget more effectively and make sure that they have applied for all the funding they are entitled to. We can also help negotiate with creditors on behalf of students. Our advice is not to ignore your money troubles - they can be managed and we can show you how."

-ends-

Editors notes:

There will be a display with leaflets and information available in the Civic Centre Reception during National Consumer Protection week.

Contact details:

Poole Council Tax payers contact: Borough of Poole Consumer Protection Services: (01202) 261700.

Bournemouth Council Tax payers contact: Environmental Health and Consumer Services: (01202) 451551

Dorset Council Tax payers contact: Dorset Trading Standards Service: (01305) 224012.

Poole CAB: 54 Lagland Street, Poole, tel: 08707 510937

Open Monday, Tuesday, Wednesday, Friday 10am - 4pm & Thursday 10am -1pm.

The Turlin Moor Money Advice Project: (01202) 668611 - (24 hour answerphone)

The Quay Advice Centre: (01202) 262292

University Student Advice Centre: Tina (01202) 595778 / Barbara (01202) 595764 / Marina (01202) 595779

Steve Geerke, Consumer Protection Officer, Borough of Poole, tel: (01202) 261778

Copyright © 2009 Borough of Poole - all other trademarks are acknowledged as belonging to their respective owners. All rights reserved.