Victims of economic abuse will soon find it easier to manage their debts, as 25 banks and building societies have committed to using a newly introduced document designed to simplify the process, as reported by The Guardian.
The Economic Abuse Evidence Form (EAEF) allows money and debt advisers, trained by specialist charities such as Money Advice Plus (MAP) and Surviving Economic Abuse (SEA), to inform creditors that an individual has experienced economic abuse and explain the impact on their financial situation.
Many victims, who typically owe money to at least five creditors, have previously been forced to repeatedly share their traumatic experiences with each creditor. This form is intended to ease that emotional burden by reducing…
