Trigger Figures

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Just so you know, the trigger figures are not supposed to be generally available. The Money Advice Trust only want CFS licence holders to know or use them. The figures are apparently exempt from FOI requests.

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Common Financial Statement

New trigger figures available in August

The Money Advice Trust (MAT) is pleased to announce that the 2010 Trigger Figures will be published on the 16th August 2010. The Trigger Figures will be accessible to Common Financial Statement (CFS) licence holders only. A short announcement will be circulated on this date with information about how to access the new figures.
MAT has undertaken research to update the trigger figures, using methodology consistent with last year’s review. This methodology allows MAT to:
•  Provide an annual update that takes into account the two-year lag between the collation and publication of the Office for National Statistics (ONS) data used to calculate the trigger figures. The methodology uses the Consumer Price Index (CPI) to re-flate the trigger figures to reflect current prices.
•  Improve our collective understanding of those factors that affect the spending patterns of different household types, so that we can assess whether a client’s expenditure that falls above the trigger figures is reasonable.
The mechanism exists to monitor current CPI changes, giving the ability to update the trigger figures and making them responsive to particular macro-economic changes. In practice, the CFS trigger figures would continue to be updated annually, with the option of instigating an interim review of the trigger figures where inflation increases by three per cent or more. A trigger figures working group will monitor this work.

IMPORTANT:
THIS ANNOUNCEMENT HAS BEEN SENT TO ALL CFS LICENCE HOLDERS AND ALSO A NUMBER OF ADDITIONAL STAKEHOLDERS WHO DO NOT CURRENTLY HOLD A LICENCE.
•  If you do not hold a licence but wish to use the Common Financial Statement and have access to the associated trigger figures you can sign up for a licence on the CFS website.
•  If you are unsure as to whether you hold a licence or have lost your licence key/code then please email .(JavaScript must be enabled to view this email address)
PLEASE NOTE: there may be a short delay in responding to your request due to the high volume of enquiries and new licence requests anticipated.

The Money Advice Trust is a company limited by guarantee registered in England & Wales number 4741583 and a registered charity number 1099506. Registered office at 21 Garlick Hill, London, EC4V 2AU
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Money Advice Trust, 21 Garlick Hill, London, EC4V 2AU
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Good afternoon

The 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 enabling an accurate overview of a client’s income, expenditure, assets and liabilities to be produced.

The trigger figures represent pre-agreed levels for certain areas of discretionary household expenditure. The trigger figures help identify levels of monthly expenditure deemed reasonable when completing the CFS. The purpose of the trigger figures is so that you will not need to explain the financial statement to creditors unless the trigger figures are exceeded. It is underpinned by a commitment from supporting creditors to accept offers made using this budgeting format, however, the version posted below is significantly out of date and will not be recognised by creditors.

The trigger figures are reviewed and published annually. Interim changes to the figures may be made if there is a significant increase within any expenditure category. This is agreed by the CFS Steering Group and licence holders will be informed via an e-bulletin.

If you would like to use the CFS, you will first need to check whether your organisation has a licence already. If so, you can log into your CFS account on this website to view the current trigger figures. You may also have the trigger figures built into budgeting or case management software.

If you do not hold a CFS licence, you can apply by completing the online form. You must agree to use the trigger figures as set out in the licence agreement. If you would like to link to the online form, please click here

Money Advice Trust - 30 July 2010 03:11 PM

Good afternoon

The 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 enabling an accurate overview of a client’s income, expenditure, assets and liabilities to be produced.

The trigger figures represent pre-agreed levels for certain areas of discretionary household expenditure. The trigger figures help identify levels of monthly expenditure deemed reasonable when completing the CFS. The purpose of the trigger figures is so that you will not need to explain the financial statement to creditors unless the trigger figures are exceeded. It is underpinned by a commitment from supporting creditors to accept offers made using this budgeting format, however, the version posted below is significantly out of date and will not be recognised by creditors.

The trigger figures are reviewed and published annually. Interim changes to the figures may be made if there is a significant increase within any expenditure category. This is agreed by the CFS Steering Group and licence holders will be informed via an e-bulletin.

If you would like to use the CFS, you will first need to check whether your organisation has a licence already. If so, you can log into your CFS account on this website to view the current trigger figures. You may also have the trigger figures built into budgeting or case management software.

If you do not hold a CFS licence, you can apply by completing the online form. You must agree to use the trigger figures as set out in the licence agreement. If you would like to link to the online form, please go to http://www.cfs.moneyadvicetrust.org