Debt news – 11 July 2021 · Debt Camel


The choice that the UC £20 per week uplift is being got rid of in October is the most important – and worst – news imaginable for the debt recommendation sector.


Debt news

UK banks bolster debt collection teams ahead of first Covid loan repayments City AM: Britain’s 4 greatest banks have employed over 750 staff of their debt assortment gadgets as a way to set up a wave of possible defaults.

“Should I stop paying Amigo?” – the professionals & cons – my article.

Banking:

  • Thousands locked out by NatWest Times (paywall): Bank accounts are frozen with out caution and for no obvious explanation why.
  • City watchdog intervenes after Pockit freezes client accounts Times (paywall): Which?… requested the Financial Conduct Authority to seem into the suspensions amid considerations that tasks to seem after prone shoppers would possibly had been breached.
  • In Praise of Cash Cash facilitates budgeting, get entry to for the aged and homeless, charity giving, tip giving – you won’t care however “You no longer sporting money isn’t a controversy to forestall everybody else from the usage of it and importantly to forestall other folks from accepting it“.

Equity unlock:

Benefits & different news

A Twitter thread on why reducing UC is any such dangerous choice. “Is it expensive to keep the £20/week? Yes. But the costs of taking that money away from millions of families are much higher.

Mothers lose fight against two-child benefit limit BBC: “This is a hugely disappointing judgment which fails to give any meaningful recognition to the reality of the policy on the ground and its desperately unfair impact on children.”

PhD student hit with £17,000 bill by DWP after universal credit error Guardian: “I acknowledge that you did supply evidence with respect to your student income in an appropriate time but due to an administrative error, your student income was not calculated and included in your UC award.”

Sludge and transaction costs  CUP: Examples of sludge come with unnecessarily sophisticated shape-filling, hidden upload-on charges, lengthy and complicated superb print, destructive default settings, inconvenient cashback and refund prerequisites, messages that induce unfavourable feelings, subscription traps, and purple tape.

Diversity and inclusion in the financial sector – working together to drive change FCA: a dialogue paper.

Domestic Abuse and Priority Need Nearly Legal: “a person who is homeless as of result of domestic abuse against them is in priority need for the purposes of Part VII Housing Act 1996… This is unarguably a good thing.”

Charity’s undercover probe finds many councils fail people who cannot afford to pay for funerals Mail: a secret investigator posing as a bereaved nephew met with a large number of hindrances and a ‘shocking’ loss of compassion via team of workers when contacting a number of dozen councils, in step with the file via Quaker Social Action.


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