New free money advice line

Free money advice is now available on 0300 500 5000.

Moneymadeclear is a new advice service that includes a helpline, website and face-to-face advice services, delivered through a range of partners such as Citizens Advice Bureaux and Age Concern.

The cost of the service will be funded by a levy on the financial sector and funds recovered from dormant bank accounts, with Government meeting part of the cost in the first year.

People will be able to phone up, or talk face-to-face with independent experts – to get free advice on money worries, financial planning, or advice on their rights and actions that they can take if they feel they are not getting a fair deal.

The Government has trialled the service in the North East and the North West since last April, and has helped 500,000 people, including 23,000 who received face-to-face assistance. The new service is expected to help a million people in the next year.

The Moneymadeclear helpline is available on 0300 500 5000 and there is a website at www.moneymadeclear.fsa.gov.uk

Chancellor Alistair Darling said, “Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form; want advice about opening a savings account for your children or grand-children or you want some help dealing with repayments before they get out of hand. This service will provide much needed advice for one million people across the UK in the coming year alone.”

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