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WELCOME IMA - assuring quality in the money advice profession
Understanding Business Debtline and supporting self-employed
debt advice clients
IMA – assuring quality in the money advice profession
An overview of the BDL service
- Part of the Money Advice Trust - www.moneyadvicetrust.org.uk- Telephone based - BDL history
IMA – assuring quality in the money advice profession
Objectives
- Provide an overview of the Business Debtline (BDL) service;
- outline resources available to self-employed clients and referral agencies;
- give an overview of the types of clients that use the service and the main problems they experience; and
- summarise the main challenges facing self-employed clients in ensuring their business remains viable and keeping their debts in check.
IMA – assuring quality in the money advice profession
BDL service expansion
IMA – assuring quality in the money advice profession
0
5000
10000
15000
20000
25000
30000
35000
40000
2006 2007 2008 2009 2010
Calls Answered
Our resources
- 21 advisers and 2 Team Managers
- Helpline 0800 197 6026
- Advice materials
- BDL Website www.bdl.org.uk
IMA – assuring quality in the money advice profession
Hits to BDL website
IMA – assuring quality in the money advice profession
0
500000
1000000
1500000
2000000
2500000
2006 2007 2008 2009 2010
Number of Hits
Who we advise
IMA – assuring quality in the money advice profession
Sole Traders43%
Partnerships8%
Limited Companies
28%
Other ( e.g. Charities,
LLP's)21%
BDL offer advice on;
- all business and personal debts including debts to HMRC- business and personal budget sheets- personal and company insolvency- basic business and cash flow advice- court advice including replying to claims, defending, set aside- debt solutions e.g. DMP, DRO, IVA - recovering money from late payers
- and much much more……..
IMA – assuring quality in the money advice profession
Main issues BDL advise on
IMA – assuring quality in the money advice profession
02468
101214161820
PersCreds
TradeShrtfall
Bkrtcy Bank HMRC Disputes Bailiffs LatePayers
% of clients
BDL cannot give;
- Legal advice- Face to face or case work advice- Grants or funding
IMA – assuring quality in the money advice profession
Signposting
- Business Link, Flexible Support for Business (Wales) and Business Gateway- Federation of Small Businesses- Taxaid- Insolvency Practitioners- Lawyers for Your Business- Accountants
IMA – assuring quality in the money advice profession
Challenges facing self-employed clients
a) Cash flow and difficulties in obtaining creditb) Late payers and creditors taking recovery action quicklyc) Use of personal credit to fund a failing businessd) Difficulties in getting legal help for business related issues
IMA – assuring quality in the money advice profession
Exercise:
To refer or not to refer
IMA – assuring quality in the money advice profession
Thank you and any questions?
IMA – assuring quality in the money advice profession
IMA – assuring quality in the money advice profession
IMA – assuring quality in the money advice profession
