Information Guidance And Advice Flashcards
(9 cards)
What is citizens advice
A network of charities that offer financial advice
What is independent financial advisors
A professional that offers financial advice to customers
What are price comparison websites
A website that has different financial options regarding the specific service you are looking for
What is money advice service
A government funded organisation that helps individuals resolve there debts. Free
What is a debt councillor
A professional that helps individuals to resolve there debts. Many are free most are not.
What is an individual voluntary agreement (IVAs)
A legal binding agreement between creditors and debtors that allows them to repay their debts over a certain period. Ruins credit rating.
What is bankruptcy
A legal process that allows individuals o get rid of certain debts over a certain period of time when they cannot pay them back. Leads to assets being taken.
Main advantages of information and guidance
Most are free, most are quick and easy to find.
Main disadvantages of information guidance and advice
Could get bad advice.
