In a quiet week, my two top picks are my article on UK credit records & scores and the Times article – unfortunately behind a paywall – on Hostile environment: immigration system keeps families like ours in debt.
CRUEL UNIFORM Payday lenders are targeting skint parents and charging 1,333% interest on children’s school gear Sun: The loan shark-style firms’ websites feature editorials pushing high interest credit to cover “unexpected school costs” ahead of the new year.
Instant Cash Loans, which own the Money Shop, Payday UK and Payday Express brands, has sent millions of emails to customers asking them to vote to approve its Scheme of Arrangement:
- Money Shop, Payday UK & Payday Express LATEST NEWS my article on the Scheme
- Will the Money Shop really pay 80% of your payday loan refund? my article pointing out that the 80% figure is surprisingly high.
‘My dad thought he was a criminal – he wasn’t’ BBC: Suicide linked to HMRC Loan Charge.
Retired and want an interest-only mortgage? Nationwide becomes first major lender to offer deals to all Mail: currently a niche product, their popularity is expected to grow substantially in years to come – but up to now they have only been offered by smaller building societies and specialist lenders.
Monzo insists new short-term loans won’t be at Wonga rates Guardian: Challenger bank offers short-term loans but says it is not targeting customers who use payday lenders.
Benefits & other news
‘She had no money’ – Cash-strapped mum, 24, stole handbags to pay for food and electricity StokeonTrentLive: a story about someone with no money waiting for Universal Credit.
Calls for investigation as quarter of a million people have been sanctioned under Universal Credit Scottish Housing News: Citizens Advice Scotland says: Today’s statistics show a worrying trend of an increase in the proportion of people facing a sanction since the introduction of Universal Credit.
Action Fraud investigation: victims misled and mocked as police fail to investigate Times (paywall): Call handlers who take victims’ reports after only two weeks of training are coached to mislead callers into thinking that they are talking to police officers. They decide during calls whether or not to classify victims’ cases as crimes but are told never to reveal this to victims.
University – you know the fees, but what about the costs? Guardian: You’ve got the grades and you’re heading for college. Now get ready to pay the bills.
Hostile environment: immigration system keeps families like ours in debt Times (paywall): excellent article: Four young people on their long, complicated and expensive battle to become British.