My pick of last week’s news is the Emerging from Lockdown survey.
Tweet of the week
Appalled at how hard it still is for our poorest communities to withdraw their hard-earned low wages from cash machines w/o incurring a charge. £1.50 might not seem much to some but can you imagine trying to withdraw your last £10 for electricity and seeing it reduced to £8.50.😢
— Father Grant Naylor (@FatherNaylor) September 4, 2020
EMERGING FROM LOCKDOWN Standard Life Foundation: Results from 3rd cross-sectional tracker survey – The majority of households that had a [COVID-19] payment arrangement were in financial difficulty, and will likely find it very difficult either to pay back the money they owe or to meet payments after the arrangements end – in most cases on 31 October 2020.
Response to FCA consultation on mortgages and coronavirus Money Advice Trust: the FCA appears to be suggesting that, ultimately because of the nature of the product, people should expect to lose their homes.
High cost credit:
- Provident complaints rise – but are its offers too low? my article
- Rent-to-own BrightHouse accused of sidestepping Covid payment guidance Guardian: administrators of the collapsed firm continue to ‘maximise’ loan collections from struggling customers.
Advice in Glasgow:
- Last Minute Deal to Save Glasgow Advice Agencies Advice Scotland
- Glasgow City Council shows true colours with bid to axe Citizens Advice offices Daily Record: As the inevitable backlash to the proposed cuts gathered pace earlier this week, Glasgow City Council, as if by magic, produced £4million to purchase a quick escape from the public relations disaster.
First tranche of Covid debt advice funding allocated Best Advice: Up to £7.5 million is being allocated to three debt advice providers – Christians Against Poverty (CAP), PayPlan and StepChange – to cover lost income from a key voluntary funding stream known as ‘Fair Share’.
My brother is a target for fraud, but he was given a bank card Guardian: Someone withdrew £6,000 from his account without my knowledge.
These are the bills you should not pay off Independent: It doesn’t always pay to settle your debts as quickly as possible.
Benefits & other news
Court threat to housebuilders over leasehold ‘trap’ BBC: She said she was told she could buy the freehold for between £2,000 and £4,000 two years later, only for it to be sold on to an investment company which quoted her more than £13,000.
What have we learned during the biggest crisis most of us have faced in our lives? Edinburgh Poverty Commission: By embedding money and debt advice in the places people usually go to, we are more likely to enable take-up of tailored support at the right time.
The cladding crisis that has made 3,000,000 people’s homes worthless Metro: Faced with having to survey thousands of tall buildings, housing associations have told owners in smaller ‘low risk’ blocks it could be a decade before they get the form [they need to be able to sell a flat].
The FCA’s vulnerability guidance could be a turning point for inclusive design Money Advice Trust: Inclusive Design is not simply something nice-to-have, but is directly linked to treating all customers fairly (including vulnerable customers), and helping them to achieve good outcomes, which is good for both the consumer and the firm.