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Welcome to the Common Financial Statement
A partnership approach to dealing with debt.
The Common Financial Statement (CFS) is a budgeting tool that can be used by advice agencies and other third party organisations to make debt repayment offers to creditors on behalf of clients. It provides a detailed budgeting format to provide an accurate overview of a person's income, expenditure, assets and liabilities.
The Money Advice Trust launched a new CFS website on the 1st February 2010, www.cfs.moneyadvicetrust.org
The CFS website will act as an information point, giving users and licence holders a thorough overview of the CFS. The site will feature a number of tools including:
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A comprehensive frequently asked questions (FAQs) section
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An online application form for the CFS licence
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A ‘licence holders only’ section of the site which will allow access to current trigger figures and a copy of the CFS spreadsheet; and
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Use of the CFS resources library for licence holders, giving information on the latest CFS developments and research, linked projects and e-bulletins.
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Important
The purpose of the Common Financial Statement is to provide an accurate overview of a person's income, expenditure, assets and liabilities. As a result, a third party organisation, ideally a free, independent advice agency, should complete the CFS with and on behalf of that person.
If you are a member of the public who has received a copy of the CFS to complete, we strongly advise you to seek support from a free, independent advice agency. You can contact National Debtline (NDL), directly for free, confidential, and independent advice on 0808 808 4000. NDL will able to assist you in preparing budget information to provide to creditors, and if necessary will be able to refer you to a suitable source of face-to-face advice.
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