we_are_debt_advisers_uk retweeted
Submitted today - GMMAG and GMDPP respond to Ofgem’s two consultations on energy debt.
With grateful thanks to all the contributors for their time, expertise and knowledge.
acrobat.adobe.com/id/urn:aai…
we_are_debt_advisers_uk retweeted
.@MoneyPensionsUK webinar yesterday: funding for community based debt advice is expected to increase (16%) to £35 million in 2025/26 - funded by a raise in the Financial Services Levy. A welcome step to rebuild these vital services after years of real terms cuts. #RaisetheLevy
we_are_debt_advisers_uk retweeted
In cost of living crisis help to manage debts vital to ensuring millions don’t get caught in cycle of harm cannot escape - with BNPL lenders not yet contributing to the fund to provide this we can do more to hold them to account for damage they do. Find out at @responsiblecred ..
we_are_debt_advisers_uk retweeted
@MoneyPensionsUK has underestimated the true extent of Britain's debt problems. Our new analysis finds one in four adults in clear need of debt advice, equating to 13.5 million people - 5 million more than the MaPS estimate. It's time to #RaiseTheLevy
bit.ly/4fTxE57
we_are_debt_advisers_uk retweeted
There have been recent calls for the FCA to review its creditworthiness and affordability rules but these regulations are not the problem. The cost-of-living crisis has made consumer credit unaffordable for many. Our blog bit.ly/3B8ALHk
we_are_debt_advisers_uk retweeted
Consumer credit debt is at an all-time high, and its the poorest households who are under the greatest weight.
Our new blog bit.ly/3B10scM
we_are_debt_advisers_uk retweeted
we_are_debt_advisers_uk retweeted
Case Notes #1 has landed📝
3 stories:
- the surprising DRO decision
- savings pension credit - for those with incomes above the guarantee threshold (if they’re old enough)
- revisiting Council Tax bailiffs & M Lewis
Read here👇
amestaylor.medium.com/case-n…
we_are_debt_advisers_uk retweeted
Debt Advisers!
I’m taking part in a panel discussion on Wednesday about the future of debt advice (at the IMA conference - see you there if you’re going)
What are your thoughts? DM me or reply and I’ll try my best to represent adviser views in the discussion 👍
we_are_debt_advisers_uk retweeted
A must read by @daniel_edmiston on the harms of benefit deductions and the impact on people being driven into debt.
Poverty and punishment.
‘Slow, punishing attrition’
#NoSafetyNet
ALT Screenshot says: Far from a springboard, the social security system was experienced as a trap in this instance. And for other claimants like Barry, deductions instigated a slow, punishing attrition in living standards and household stability. The resultant traumas and costs associated with deepening poverty made claimants feel less prepared and confident to sustain or move closer towards paid work over time.
🆕 research by @daniel_edmiston sheds light on the hidden impact of benefit deductions in the UK social security system. The paper uncovers how deductions deepen the poverty-debt cycle, contradicting policy intentions.
👇
onlinelibrary.wiley.com/doi/…
we_are_debt_advisers_uk retweeted
The report is based on a misinterpretation of the situation. The life-cycle model and the idea of borrowing to smooth consumption does not work in times of stagnating incomes. It is this issue, rather than credit regulation, that is the main cause of the current credit squeeze.
You can view the full 'Access to credit and illegal lending' report here on our website: fair4allfinance.org.uk/acces…
we_are_debt_advisers_uk retweeted
Not-for-profit and charity workers anxious, overworked & underpaid warns Unite
CEOs not so much. unitetheunion.org/news-event…
we_are_debt_advisers_uk retweeted
.@Fair4AllFinance is claiming a 'credit vacuum' is driving low income households to loan sharks. It calls for a "broader definition of...good consumer outcomes...including access to credit, consumer protection as well as its affordability." Our response: bit.ly/4bNwKov
we_are_debt_advisers_uk retweeted
We have released new shocking figures for #DebtAwarenessWeek showing record numbers of people in Britain are now falling behind on bills [1/3] theguardian.com/money/2024/m…
we_are_debt_advisers_uk retweeted
Beautiful memorial to our former colleague Louie Herbert.
Louie started our community organising work in 2020. He saw strength in the collective voices of people in debt and the power *we all have* to resist oppression and exploitation.
We are heartbroken by his passing.
We are heartbroken at Act Build Change to have lost a beloved member of our team, Louie Herbert.
Our CEO @StephanieWong remembers and celebrates him.
actbuildchange.com/ideas/lou…
we_are_debt_advisers_uk retweeted
This is tomorrow - we’ve been looking at the MaPS consultation and we have a few thoughts - would love to hear what other debt advisers think, please come along and bring your opinions. Hope to see you there✊ @debtwe
Debt advisers! Join us online at midday on 22nd Feb to tell us what you think about @MoneyPensionsUK proposals for the delivery of debt advice. Reserve your place at eventbrite.co.uk/e/we-are-de…
we_are_debt_advisers_uk retweeted
Too many don't have savings for everyday cashflow let alone the rainy day - & half of us don't have enough for a life shock such as unemployment or divorce. But lots we can do to fix this problem as outlined in new @resfoundation @finan_fairness report financialfairness.org.uk/en/…
we_are_debt_advisers_uk retweeted
“It’s devastating... There’s no other place for clients to go": My @guardian piece on the Citizens Advice branch closing because of council cuts in one of the UK's most deprived areas theguardian.com/uk-news/2024…
we_are_debt_advisers_uk retweeted
🚨 Calling all debt advisers! MaPS consultation on proposals for delivery of debt advice published today - please share #SaveDebtAdvice
maps.org.uk/en/publications/…
we_are_debt_advisers_uk retweeted
Over the past couple of years we've seen a significant deterioration in people's financial well-being. Two years ago 27% were in serious financial difficulties or struggling. Now 41% - a growth of 50%. New polling of 6,000 h/holds @finan_fairness @PFRC_uk
financialfairness.org.uk/en/…
