Money Advice UpdateMarch 2019
Helping a Vulnerable Client with Mortgage Debt
This client was originally referred by the Macmillan Benefits Service to the Advice NI Debt Service. The client was a young mother of two young children with substantial debt. This included a Housing Benefit overpayment of over £20k and Choice Housing arrears of £5k.
James Jones Public Relationship Manager of Experian PLC, presented a very insightful overview of credit scoring myths and educating tips at the Ask the Expert Session held in December.
Last month during #TalkMoney Week 2019 Advice NI launched a brand new online money management resource Money Talks.
Since it began in April, Advice NI’s Debt Action, has helped 3,200 people deal with more than £32 million in debt.
A client approached the Debt Action service for help as they were struggling to deal with their debt repayments due to suffering from post-traumatic stress disorder, depression and anxiety.Their financial situation was having a negative impact on their health.
Money Advice UpdateDecember 2019
Last year the Financial Conduct Authority (FCA) issued new rules regarding overdrafts. The rules aim at making it more simple for consumers to understand the fees being charged when their account goes into overdraft.The new rules from the FCA came into effect on 6th April 2020.
COVID 19 is accelerating the trend towards contactless payment on cards and mobile phones. Contactless payment has become the norm for transactions from buying coffee to purchasing groceries. Claims that we could soon be a cashless society are not so far-fetched
