B4

Question 1

Citizen advice

Answer 1

Give personalised advice about non/financial situations
- Not professional as volenteers
+ Free

Question 2

Indipendant financial advisor (IFA)

Answer 2

Profesional individuals providing indipendant advice on financial products
- charge for services
+ dont recieve commision for any financial products they recommend

Question 3

Price comparison website

Answer 3

Compare features + prices of different types provided by range of suppliers
- not all suppliers may be identified
+ customer gets best product for needs

Question 4

Debt counsellors

Answer 4

Advice you on debt and how to get out of it
- some individuals charge fee
+ personalised advice on budgeting

Question 5

Indicidual volentary arrangment (IVA)

Answer 5

Come to agreement with company you owe money to
Freeze debt payment for 12 months to show you can live without debt
If you show this you can go with IVA
- stays on credit record for 6-8 years making it impossible to use credit

Question 6

Money advice service

Answer 6

Gov agency providing financial advice to improve individuals finances
+ free
- need computer + online access