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Money & Debt

Dealing with money issues can sometimes be off-putting, but if you don’t understand how things like credit or mortgages work, you could end up losing out financially or getting yourself deep in debt.

Citizens Advice Money Advice Service

Citizens Advice Jersey know that whether it’s one debt or many, whether it’s hundreds of pounds or thousands of pounds, if you can’t see how or when you can pay back, the stress can affect your work and your home life. Because of this we have put together our Money Advice Service. It has come […]

Complaints against Financial Services Providers

Channel Islands Financial Ombudsman Service An independent service for dealing with disputes between customers and firms offering financial products such as pensions, shares and bank accounts. A Financial Ombudsman for the Channel Islands has been established and it is possible for Jersey residents to seek help with disputes with local financial service providers. Channel Islands […]

Depositors Compensation Scheme

When did it come into force? The Banking Business [Depositors Compensation] [Jersey] Regulations 2009 came into force on the 6th November 2009. What is it? The Regulations establish a Deposit Compensation Scheme [DCS] which will provide depositors with compensation in the event that a Jersey registered bank should fail. The DCS would provide full protection […]

Guarantors

Why would a client need a guarantor? Some credit providers may require a guarantor to take responsibility for the risk of the client defaulting on a credit or hire agreement. If the client defaults on the agreement, the credit provider will usually be able to take action against either the client or the guarantor, depending […]

Hire Purchase

What is Hire Purchase? Hire Purchase is a credit agreement where the buyer pays for an item in regular instalments while enjoying the use of it.  During the repayment period, the item remains the property of the creditor, usually a finance company.  Upon full repayment, the buyer becomes the owner. Can I sell an item […]

Liability for debts / Challenging a debt

What to consider Is money actually owed? If so, by who to whom? Can the debt be enforced? Trying to prove that a debt is not due and that you are not liable can take time. So, it is important to be aware that you may need to act quickly. If you don’t you could […]

Liability for Debts / Club Members

Clubs and Debts If a club has debts, the members of the club will be liable for payment of the debts. A member of a club is still liable if they are not a fully paid member. Only by resigning in writing will they exclude themselves from any future debt of the club. A legal […]
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