My own news this week was that I won the UK Money Blogger of the Year 2017 award at the Money Bloggers annual conference!
The Guardian has been running a series of articles on personal debt, and the three included here are my picks of the week.
Graph of the week
Instead, millennials are four times as likely as baby boomers were at age 30 to live in the private rented sector pic.twitter.com/plNS5V1Z6J
— Matt Whittaker (@MattWhittakerRF) September 20, 2017
My student loan is still £3,300? Are you serious? The Times (£ paywall) the government-backed lender manages £100 billion of our deb… six million customers with loans, but can’t tell them exactly how much they owe.
Writing off student debt cheaper than claimed, says IFS Guardian: Decision could cost the government as little as £10bn, well below the £100bn quoted by ministers.
Dear CEO… how to improve payday loan complaints handling My article suggests 10 improvements following the FCA’s Dear CEO letter last week.
Payday loan refunds – how long till a lender replies? pays out? My article looks at timescales for the large and mid-sized lenders.
If the Government wants to prevent another recession it needs to cancel some personal debt Independent: There is concern among experts that personal debt may be becoming the new ‘sub-prime’ debt, like mortgages in the lead up to the financial crisis.
One in six people in the UK burdened with financial difficulties Money Advice Service 8.3 million adults in the UK are living with problem debt.
Young people ‘face debt epidemic’ BBC News The Young Women’s Trust survey of more than 4,000 18- to 30-year-olds suggests almost a quarter are in debt all the time and almost half have to borrow to make their cash last to the end of the month.
UK debt is explosive – and it only needs a spark to light the fuse Guardian The Bank of England is right to warn over consumer borrowing – even if the central bank itself has been partly responsible.
‘They just kept topping it up’ – how one credit card user fell £28,000 in debt Guardian Tracy Banham’s credit card limit was raised several times without asking, despite her making only the minimum payments.
Tough calls: on the debt crisis frontline with charity StepChange Guardian: The accents change as calls are coming in from all over the country but the problems are the same: the plates they had kept spinning for so long have smashed on the floor and they need help to sort through the pieces.
Home Office wrongly denying people bank accounts in 10% of cases Guardian: Study of Theresa May’s ‘hostile environment’ measures against illegal immigrants finds high error rate.
If Universal Credit rollout continues like this, foodbanks won’t be able to catch everyone who falls Trussell Trust “We are being squeezed at both ends, less disposable income for the givers leading to reduced donations and more demand at the other end. Our food reserves are down from 40 tons to just over 14 tons. We have had part roll-out [of Universal Credit] but it’s not yet complete in the outer parts of [Newcastle] so we expect things to get rapidly worse”
Cristiano Ronaldo recommends complex, risky financial product to millions of fans Independent: Ronaldo’s new partner, an online brokerage based in Cyprus, deals in contracts for difference, or CFDs, complex derivatives that officials across the continent are seeking to curb.
Britain’s unclaimed benefits: four million families miss out The Conversation: Up to £12.4 billion of means-tested benefits – including pension credit, housing benefit and jobseekers and employment support allowance – were left unclaimed in 2015-16.
Banks are about to open the floodgates to YOUR personal data Mail: Here’s what you need to know now and how to keep your money safe.