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Citizens Advice study highlights 'self-help' debt plan rejections
Wednesday 5th November 2008"Self-help" debt plan applications are generally rejected by creditors, new figures from Citizens Advice show.
According to the charity, 60 per cent of debtors who try to set up debt repayment programmes with the firms have all of their applications rejected.
By contrast, just 20 per cent have them all accepted.
As a consequence, the charity said that a working party of representatives from the financial advice, debt collection and creditor sectors should bet together to improve the services offered to the "self-help" debtors.
This could result in a model of practice being implemented on this issue by 2010, Citizens Advice chief executive David Harker said.
He added: "As the current credit crunch and rising food and fuel costs are likely to result in more people needing help managing their finances it's important that those who want to and are able to can negotiate with creditors directly without the risk of being treated unfavourably."
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