Financial help is out there

Borders residents are becoming more aware of the help they can get from the Financial Ombudsman Service.

This free service has the power to sort out problems between consumers and financial businesses, and recent date shows a significant rise in the number of PPI complaints, and a large jump in general helpline enquiries from the Borders

Local Borders MP Michael Moore said: “These recently published figures show a large increase on last year of people contacting the Financial Services Ombudsman when they find themselves in financial difficulty”.

“It is good to know that people in the Borders increasingly know where to turn if faced with a financial problem and have a greater consumer awareness of their financial rights.

“However, from my experience, it’s those people who do not know about this service who often need it the most. Therefore, I urge people across the region to seek help from services, such as the Financial Ombudsman Service, when they are confronted with financially distressing circumstances.

The Scottish Government is also keen to ensure that people struggling with debt know who to turn to and have launched their Helping Hand with Debt campaign.

Enterprise Minister Fergus Ewing said:“Credit unions can offer sensible, ethical help as well as loans at competitive rates with affordable repayments at fairer and more attractive terms.

“There is other help available and I would urge anyone to contact your local Citizens Advice Bureau for free, expert advice.”