Guest Blog by Lynn Crawford – Financial Inclusion Worker at Changing Lives
I work face to face with people who seek or are referred for information, advice, guidance and support from Changing Lives. Changing Lives supports people who are facing some of the most toughest challenges in their life at this moment in time which can be things such as unemployment, homelessness,…
Our data shows that vulnerable people are being forced to turn to loan sharks amid cost of living crisis.
630,000 vulnerable people used loan sharks in the last year - more than half of the 1.2 million adults in the UK who have turned to unscrupulous loan sharks in the last 12 months. https://www.expressandstar.com/news/cost-of-living/2022/10/12/vulnerable-people-are-being-forced-to-turn-to-loan-sharks-amid-cost-of-living-crisis/
More vulnerable people forced to turn to loan sharks as cost-of-living soars
· Vulnerable customers also more likely to be pushed into higher cost borrowing · One in four vulnerable customers now struggling to keep up on payments National Stop Loan Sharks Week, UK, 26 September 2022 – Soaring energy, food and fuel prices have forced 1.2 million UK adults (2%) to…
Vulnerable people most likely to be moved onto high-cost prepayment meters
· Utility companies still failing to identify their most vulnerable customers · 82% of vulnerable people have not even been ‘asked’ if they are vulnerable by utility providers · The most vulnerable in society need support, not to be placed on prepayment meters and marched into fuel poverty, says Vulnerability…
Helen has featured on the first Debt Talk podcast, giving help and advice to organisations implementing the FCA’s Consumer Duty Guidance.
https://www.linkedin.com/posts/riponray_talk-talk-podcast-with-ripon-ray-debt-talk-activity-6964531159254867968-_w3Y?utm_source=linkedin_share&utm_medium=member_desktop_web
‘Fintech’s for good’ – Helen discusses what sets them apart, with Fintech Times
https://thefintechtimes.com/what-sets-a-fintech-for-good-company-apart-from-the-rest-with-republic-softserve-and-more/
Our Collaborative Response to the FCA’s ‘Dear Chief Executive’ letter
We got together with some of our partners to offer a response to the Financial Conduct Authority's recent 'Dear Chief Exec' letter - The rising cost of living – acting now to support customers. Collaborative Response to FCA Dear CEO Letter By collectively offering solutions, we've got the answer.
Male victims of financial abuse to be given a life line thanks to vital new partnership
Abused Men in Scotland (AMIS) and Vulnerability Registration Service (VRS) partnership will help male victims of domestic abuse stop credit being taken out their names Partnership will give service and credit providers access to vital indicators, ensuring they are aware of their customers’ circumstances without putting them at the risk…
Consumer Duty and the crucial role advisers will have to play
Our CEO Helen Lord and MorganAsh MD Andrew Gething got together with Mortgage Solutions magazine to discuss the impacts of the upcoming Consumer Duty implementation. Consumer Duty and the crucial role advisers will have to play – MorganAsh - Mortgage Solutions
Helen’s in the news again – this time helping the Daily Mail with their piece about loan sharks
Earlier this year we started working with the Illegal Money Lending Team (IMLT) to help protect victims of loan sharks. This data isn't reported by credit reference agencies, but it affects a huge number of vulnerable people, and we are very proud of our partnership. As the industry vulnerability expert,…
