Target Audience: Many charity workers on the frontline are faced with those clients in debt crisis, often in smaller charities where there is no in-house regulated debt advice provision. This session will give them confidence to provide support to beneficiaries struggling to manage their debt situation and the strategies available to them.
Session Aims: To equip participants with an understanding of debt management. By the end of the session, participants will be able to identify and differentiate between formal and informal debt solutions, recognize the main causes of debt, and the debt collection process.
Learning Objectives:
1. Know what Formal Debt Solutions are: Participants will learn about key formal debt solutions like IVAs, DROs, and Personal Bankruptcy.
2. Understand main Causes of Debt: Participants will identify main causes of debt, such as unexpected expenses and loss of income.
3. Understand what Informal Debt Solutions are: Participants will explore informal debt solutions like debt management plans and negotiating with creditors.
4. Understand Debt Collection Process: Participants will understand the debt collection process and how to deal with debt collector
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