My picks of last week's news are the various stories about high-cost lenders. Tweet of the week The hell of being a #mortgageprisoner. In a single tweet. https://t.co/vNk796tnGt — Greg Wright (@gregwrightYP) June 24, 2020 Debt news High cost credit lenders in trouble: Update on Complaints Amigo RNS announcement: The VReq was intended to clear a backlog of approximately … [Read more...]

My pick of last week's news is the FCA extending deferrals for credit cards and loans. Tweet of the week This is not like a Tesco loyalty scheme, is it? GVC admitted in House of Lords testimony that 38% of ALL deposits come from these schemes (1.4 % of customers). Would we accept state supported home deliveries of vodka to alcoholics? https://t.co/PAhGACJ9J2 — Matt Gaskell … [Read more...]

My picks of last week's news are the extra £38 money for debt advice and StepChange's  Coronavirus - financial recovery strategy. Tweet of the week Historian here. We almost never use statues to teach history. We have a whole bunch of more efficient tools at our disposal, like, you know, BOOKS. What’s happening is that these young people HAVE learned the history, and that’s why they’re … [Read more...]

Image of the week from Sky News: 'Black Lives Matter' painted on road next to White House and street renamed by mayor:   Debt news Renters & Coronavirus: Ban on evictions extended by 2 months to further protect renters gov.uk: "The Master of the Rolls, as head of civil justice, has convened a judiciary-led, cross-sector, task-and-finish working group to consider and … [Read more...]

My pick of last week's news is Coping with housing costs during the coronavirus crisis which has figures to back up what advice agencies have been saying is happening. Tweet of the week Coronavirus: inside the food banks feeding the hungry during lockdown | The Sunday Times Magazine | The Sunday Times ⁦@BrixtonFoodbank⁩ ⁦@VauxhallFB⁩ ⁦@foodbankNorwood⁩ ⁦@WaterlooFB⁩ awesome volunteers … [Read more...]

Three picks this week that looking at different aspects of what needs to happen to help people in/after the pandemic: The clock is ticking: government must act now to protect renters Coronavirus & the reform of Personal Insolvency in England Extraordinary Times Need Extraordinary Measures. Tweet of the week 1) @jackiebmsp amendments to Bankruptcy Application fees in Scotland … [Read more...]

If you are interested in the future of debt advice, my pick of the week is my own article: Coronavirus – how the debt advice sector should be planning. Debt Coronavirus – how the debt advice sector should be planning my article. Tesco Bank customers get credit rating warnings after taking payment holiday Times (paywall): Jayne ... was given a payment holiday at the end of March, but on … [Read more...]

Lots of articles this week on rent arrears - probably the single biggest debt problem facing the country. The looming rent arrears crisis The problem: Coronavirus: Private renters need more help to 'ride out crisis' BBC: Almost half a million people are at "high risk" of homelessness, according to 187 local councils across England. The government proposal: Optimism of the … [Read more...]

My pick of last week's news is the Citizens Advice report "Near the cliff-edge". Tweet of the week 1/n. Are we heading for a cliff edge as govt support comes to an end? Our data is starting to suggest there'll need to be further bold policy measures to avoid this - particularly as the way out now seems gradual. #Covid19 THREAD--> — James Plunkett (@jamestplunkett) May 2, … [Read more...]

All coronavirus-related this week. Tweet of the week It's official. This is far and away the biggest increase in claims to benefit in at least forty years, and likely a lifetime. See below. This is a 412% increase month on month, >5 times higher than previous record (June 1994). First time we've had official data to chart this. 1/ pic.twitter.com/qS9fTY2Y9i — Tony Wilson … [Read more...]