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The Money Advice Trust publishes new CFS trigger figures

Following an annual review, the Money Advice Trust has published new trigger figures for the Common Financial Statement (CFS). Licence-holders can access the new figures, which have been uprated to reflect the current cost-of-living, by visiting www.cfs.moneyadvicetrust.org. The new figures come into effect from 1 April 2014 and must be in use by 1 June 2014 in order to remain CFS-compliant.

 

The CFS provides a standard approach to budgeting, which aims to support sustainable debt repayments and streamline communication between money advisers and creditors. The CFS trigger figures are guideline maximum spending amounts covering four areas of discretionary spending: housekeeping, travel, phone and ‘other’. The CFS is sponsored by the British Banking Association and the Finance and Leasing Association and is widely recognised by creditors, regulators, government departments and debt advice organisations. For further information and to apply for a free licence to use the CFS, visit www.cfs.moneyadvicetrust.org.

 
 
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