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Debt Camel
2020 was difficult for people in debt even before Coronavirus. Against unaffordable credit. For better debt advice. All tweets in a personal capacity
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Debt Camel retweeted
Clean Up Gambling 56m
Big developments reported in The government will commence a review of the 2005 Gambling Act next month 🥳 This review will include ⚽️ gambling advertising and sports sponsorship 🎰 limiting online stakes 💷 free bets and inducements
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Debt Camel 1h
All good questions. But if this was a StepChange error then it seems unusual that Elderbridge wrote off the interest... unless there was some other reason they would lose a FOS case...
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Debt Camel 2h
The issue in dispute has not been whether the debt is unenforceable. My point was that if Elderbridge hadn’t made a rapid U turn, there are several good reasons for a FOS complaint and enforceability is also worth checking.
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Debt Camel 2h
Which was my first response to Moneybox. No one has had any idea interest was being added until thus year when a settlement amount was requested by the borrower.
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Debt Camel 2h
I haven’t actually had access to the room to check out what us in it. The way the case was described to me, the borrower had been told by FirstPlus no interest would be added. Unlikely? Yes. But so is the rest of this very odd case.
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Debt Camel 2h
1) a LOT of people are getting FirstPlus/Elderbridge settlements after making a FOS complaint 2) a pre 2007 secured loan could be irredeemably unenforceable if loan documentation isn’t correct in which case a solicitor may take case in a no win no fee basis.
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Debt Camel 2h
As says, the problem is people not coming forward for advice. Great fast result for this poor man. But if Elderbridge hadn’t written off the interest then I would have suggested (cont)
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Debt Camel 16h
if anyone comes across other FirstPlus interest cases - probably not DMP related - I would be interested
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Debt Camel 18h
It does seem mostly branding, but I think that is a useful move if it encourages people to come forward for debt advice thinking there is a temporary bridging product that could help them.
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Debt Camel 19h
It's really hard to guess what happened! Nice result getting the interest wiped. Especially as I think FirstPlus were one of the unpleasant bad credit lenders that hiked interest after 2008.
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Debt Camel 20h
Indeed - it was a very odd case. Of course there is no reason why a secured loan can’t be included in a DMP in the same that one can theoretically be included in an IVA.
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Debt Camel 24h
Replying to @andrewellson
isn't 7k a shockingly low amount if his family had paid 22k for an air ambulance themselves?
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Debt Camel Oct 24
Replying to @KatyWardHull
so fine words would butter your parsnips...
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Debt Camel Oct 24
I wonder if Citizens Advice is happy with being cited like this... I had heard that another debt charity asked for their name to be removed - they had had a presentation but no intention of endorsing it.
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Debt Camel retweeted
Brian Bilston Oct 23
This is called ‘Conservative Party HQ Lunchtime Menu’.
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Debt Camel Oct 23
Replying to @micagbdav
Hope it passes as soon as possible, healthy kids can be very hard work when you are both unwell.
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Debt Camel retweeted
Lee Healey Oct 23
Our amazing Lorraine had 15 (fifteen!) white goods (fridges, washing machine etc) grant applications confirmed and awarded for customers this week. Unreal impact and huge savings for low income customers that would have been struggling to find the money to buy
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Debt Camel Oct 23
"I just wrap up very warm in winter, can't afford the heating" this from a client with COPD....
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Debt Camel Oct 23
auto finance is the big unknown at the moment, I agree.
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Debt Camel retweeted
BBC Money Box Oct 23
Tomorrow on - a sharp increase in fraud on Instagram since lockdown. The last shift - support for workers in Tier 3 and a 'temporary' option to help pay back debts. from midday
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