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Reprieve Granted To Debt Advisers

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http://www.bbc.co.uk/news/business-12435845

Hundreds of specialist debt advisers facing redundancy have won a reprieve after the government found £27m to continue the service for a year.

For the past five years, the £27m-a-year Financial Inclusion Fund has been paying for about 500 specialists in England and Wales to give free advice.

It's amazing, the masses are told they'll be living in poverty in the not too distant future but yet the government has 'found' 27m to keep this racket going.

If debt is the problem repayment is the solution otherwise the bailiffs come and take things away, no advisers needed, especially not ones funded by the taxpayer.

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This one looked like another abuse of power. It's not hard to see there VIs drove the original decision to scrap the scheme. Political party in pocket of banks. Banks pressure political party to remove debt advice services that can very effectively and legally reduce the level of payments to the banks. Kind of smells a bit.

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http://www.bbc.co.uk/news/business-12435845

It's amazing, the masses are told they'll be living in poverty in the not too distant future but yet the government has 'found' 27m to keep this racket going.

If debt is the problem repayment is the solution otherwise the bailiffs come and take things away, no advisers needed, especially not ones funded by the taxpayer.

Nonsense. £27m is chump change, like you or I digging in our pocket for 5p.

As one who's used the Citizen's Advice Bureau debt advisors, I can attest to their knowledge and professionalism. The problem is a lot of creditors resort to empty threats when it comes to unsecured debt and lots of people get worried with solicitor's letters, so the CAB are sometimes their only source of advice and support.

Tell me, are you one of those who supported the £1.2tn bail out for loser Banksters and subsequent ludicrous bonuses, or at least not a murmur of protest? I'm fed up with the elite going on about cutting and austerity when the Banksters have got away with tens of billions of our money.

Let's turn the tables and instigate mass defaults on unsecured loans to bring the whole Ponzi scheme crashing down - or offering repayments of £1 a month (something that debt advisors routinely suggest).

Edited by shermanator

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http://www.bbc.co.uk/news/business-12435845

It's amazing, the masses are told they'll be living in poverty in the not too distant future but yet the government has 'found' 27m to keep this racket going.

If debt is the problem repayment is the solution otherwise the bailiffs come and take things away, no advisers needed, especially not ones funded by the taxpayer.

Most people in debt who go to debt management companies don't have things for the baliff to come and take away.

But what they do do is respond to the person who shouts loudest. By getting someone to manage their debts for them, everybody gets told to "go away and wait"

tim

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Nonsense. £27m is chump change, like you or I digging in our pocket for 5p.

As one who's used the Citizen's Advice Bureau debt advisors, I can attest to their knowledge and professionalism. The problem is a lot of creditors resort to empty threats when it comes to unsecured debt and lots of people get worried with solicitor's letters, so the CAB are sometimes their only source of advice and support.

Tell me, are you one of those who supported the £1.2tn bail out for loser Banksters and subsequent ludicrous bonuses, or at least not a murmur of protest? I'm fed up with the elite going on about cutting and austerity when the Banksters have got away with tens of billions of our money.

Let's turn the tables and instigate mass defaults on unsecured loans to bring the whole Ponzi scheme crashing down - or offering repayments of £1 a month (something that debt advisors routinely suggest).

CAB advisors are variable in quality, but they definitely don't get £54k each.

One of their main tasks is to make sure people claim the maximum amount of benefits.

I'm pretty sure you won't find a single poster on this forum who supports the bank bailout.

Mass default on debt will make it much harder for credit worthy people to get credit.

Not so simple, is it?

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CAB advisors are variable in quality, but they definitely don't get £54k each.

One of their main tasks is to make sure people claim the maximum amount of benefits.

I'm pretty sure you won't find a single poster on this forum who supports the bank bailout.

Mass default on debt will make it much harder for credit worthy people to get credit.

Not so simple, is it?

why do people who are credit worthy, needing so much credit?

maybe they can keep the car an extra year or two, perhaps take that holiday next year...saving up is the cheapest credit.

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why do people who are credit worthy, needing so much credit?

maybe they can keep the car an extra year or two, perhaps take that holiday next year...saving up is the cheapest credit.

I think the problem is that if people could not get credit the cost of every large ticket item would have to fall .

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why do people who are credit worthy, needing so much credit?

maybe they can keep the car an extra year or two, perhaps take that holiday next year...saving up is the cheapest credit.

This may be true, but I don't think that it's relevant to the discussion about CAB debt advisors, who mostly deal with people who cannot repay the debt that they already have because their circumstances have changed.

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I think the problem is that if people could not get credit the cost of every large ticket item would have to fall .

No it woudln't. The sellers would just (re-)invent "credit" that everybody could get. - HP, TV rental etc.

tim

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Without CAB & other debt advice workers these companys would not have even been investigated let alone been stopped from trading. Regardless of the reason or blame for personal debt it is a fact of life today and at least some of the blame can be placed with the banks and money lenders. There is a direct link from most debt colllection agencies to the banks, some even being in house collections. It is correct that they should not act outside the law.

http://www.guardian.co.uk/money/2011/jan/28/debt-management-firms-close-oft-investigation

http://www.credittoday.co.uk/news/news-item.cfm?news=2159#content

I know a few debt workers who are voluntary and only two who are paid. Neither of them earn even half of £54k . They both earn £17950. The extent of their knowledge is vast, ranging from benefits, debt advice to legal help.

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We dont need debt advisers.

We need advisors to stop people getting into debt in the first place!

Looking at insolvancies, having debt advisors certainly hasnt worked.

....but, but...the system requires people to take on debt, affordable or not, it creates employment..... it keeps the show on the road......nonpayment of debt is only a minor flaw when looking at the whole picture ;)

Edited by winkie

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I did some volunteer work in this for a while. For every 1 deserving case there seemed to be 9 who always knew they'd never have a hope in hell of paying it off and now were coming along to get letters written for them as they were too lazy to do it themselves. The credit companies were idiotic of course, I'd see something like someone two years settled in the country on an income of around 10k as a minicab driver with several credit cards maxed out at several thousands pounds each. Risk management just didn't come into it for these companies. The only genuine, deserving cases tended either to be people who had (or their children) succumbed to serious illness or been subject to fraud, like a toe rag partner taking out a lot of credit in their name and then disappearing into the sunset.

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I did some volunteer work in this for a while. For every 1 deserving case there seemed to be 9 who always knew they'd never have a hope in hell of paying it off and now were coming along to get letters written for them as they were too lazy to do it themselves. The credit companies were idiotic of course, I'd see something like someone two years settled in the country on an income of around 10k as a minicab driver with several credit cards maxed out at several thousands pounds each. Risk management just didn't come into it for these companies. The only genuine, deserving cases tended either to be people who had (or their children) succumbed to serious illness or been subject to fraud, like a toe rag partner taking out a lot of credit in their name and then disappearing into the sunset.

Yes, I reckon a good survey of stats from government sponsored debt advisors would open many eyes. Probably too sensitive!

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17 May 2010

National charity Citizens Advice today publishes its annual advice statistics for the last financial year (April 2009-March 2010).

Bureaux across England and Wales advised people on 7.1 million new issues in the 2009/10 period, up 18% on the previous year (April 2008-March 2009). Debt is still the biggest area of advice, making up 34% of all enquiries, closely followed by Benefits at 29%. Both issues saw an increase in enquiries compared to last year: Debt was up 23% (2.4 million enquiries) and Benefits up 21% (2 million enquiries).

Employment is still the third largest area of advice with just over half a million enquiries, up 6% this year, but that increase is slowing compared to last year when enquiries rose 17% from the previous year.

http://www.citizensadvice.org.uk/index/pressoffice/press_index/press_20100517.htm

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17 May 2010

National charity Citizens Advice today publishes its annual advice statistics for the last financial year (April 2009-March 2010).

Bureaux across England and Wales advised people on 7.1 million new issues in the 2009/10 period, up 18% on the previous year (April 2008-March 2009). Debt is still the biggest area of advice, making up 34% of all enquiries, closely followed by Benefits at 29%. Both issues saw an increase in enquiries compared to last year: Debt was up 23% (2.4 million enquiries) and Benefits up 21% (2 million enquiries).

Employment is still the third largest area of advice with just over half a million enquiries, up 6% this year, but that increase is slowing compared to last year when enquiries rose 17% from the previous year.

http://www.citizensa...ss_20100517.htm

Thanks for that!

My idea was a survey that drills down through the stats, to show the nature and size of the bad debt. I think the figures on unsecured debt would be mind blowing, enough to confirm the insolvency of some of the biggest lenders.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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