Information guidance and advice Flashcards
citizens advice
organisation that offers free and impartial advice to individuals on legal, financial, consumer, and other problems- is run by charities- but gives generic advice
independent financial advisor (IFA)
professionals who offer advice on a wide range of financial services e.g. mortgages, pensions, and savings- a paid service so more specific
price comparison websites
free information available online to compare organisations offering the same or similar products
money advice services (MAS)
similar to IFA, but a government organisation- free and impartial advice
debt counsellors
an individual e.g. an IFA or organisation who works to help advise and empathise with individuals on how to avoid/manage debt
bankruptcy
when someone legally declares themselves unable to pay back their debts- they can no longer borrow but are released from their debts
individual voluntary agreements (IVA)
an agreement with your creditors to pay all or part of your debts, gives you more control over your assets than bankruptcy
