Sport relief piece on BBC1

[Curlyben]

Did anyone else watch the two Sport relief pieces BBC1 has done the last couple of nights, dealing with breadline living and utter food poverty.
They were all affected by debt in one form or another, but the one that got me was tonight.
Famous Rich and Hungry available here: http://www.bbc.co.uk/iplayer/episode...gry_Episode_1/

A number of payday loans, vanquish card, various DCA's as well.
Nice letter from Moorcroft was in the pile.

Theo P advised following BK route, which would make most sense for them as they had nothing.
Such a shame that debt and BK still carries such a perceived stigma and embarrassment.

I understand that embarrassment, as we all do, but even just talking with like minded people is cathartic.
Taking the fight back to the DCA's is even better

[Sapphire]

Re: Sport relief piece on BBC1

There should be no shame in debt nowadays.

[diddlydee]

Re: Sport relief piece on BBC1

I watched last night's and tonight's episodes and thought it was a brilliant programme.

Being a "Sport Relief" programme, I had a feeling that it would be more of a true reflection of how people are really struggling, as opposed to those programmes which show people on benefits with their Sky TV's, cans of lager, designer clothes et al which enables those that have never experienced poverty to scoff.

Theo talked a lot of sense and was so compassionate; to ban the PDL companies(as he stated should happen) should be a number one priority for any government. How they have got away with their scandalous lending ways for so long is beyond me.

When I was a child, I didn't know that we were hard up. Mum would never consider borrowing anything from anyone and we made do with whatever we had. I think communities were stronger then too, for example our local greengrocer would often give mum extra veg, telling her that it was unsaleable (although it look perfect!). Little things like that helped us through.

Most of the people on the programme were affected by debt in one way or another. That is why sites like this one are such a valuable resource (and a free one!) to those that are struggling. I believe we are that community that is so lacking in the real world.

[PlanB]

Re: Sport relief piece on BBC1

Such a shame that debt and BK still carries such a perceived stigma and embarrassment. I understand that embarrassment, as we all do, but even just talking with like minded people is cathartic.
Taking the fight back to the DCA's is even better

Amen

[pompeyfaith]

Re: Sport relief piece on BBC1

The Govt play a big part in payday lending hence why nothing has been done, but what we see is a bigger picture of the ugly face of capitalism in all quarters, you go back 30 years there was none of this and the days humans were the king has long gone as now money is king and the corporations want more and more of it indeed they do not understand enough is enough.

[SaltnVinegar]

Re: Sport relief piece on BBC1

The Govt play a big part in payday lending hence why nothing has been done

The funding for these companies has got so intertwined into the general financial system that, like Japanese Knotweed, its almost impossible to eradicate without making such lending illegal, which would drive those using PDL loans to the illegal lending market which is much much nastier.

When you start looking at the investment companies who fund the PDL industry, and then see who provides the money to those investment companies, you'd be shocked.

The Church of England, who a few months ago were very vocal about shutting down PDL companies, got very embarrassed when they discovered their 'investment vehicles' were funding the actual PDL companies they were vilifying. They admitted that they were unaware of what their money was actually supporting, and have since gone very quiet, despite some initial noise that they would stop those investments.

Several local councils have also found themselves in the same position, which effectively means that the money we are paying in council tax is indirectly funding the payday loan problem (I am currently waiting FOI responses from 20 councils about their investments to see how widespread this problem is - watch this space)

The investment arm of Barclays also funds several payday loan companies.

The PDL companies have been so profitable, that those looking for good returns in their investments, will almost inevitably have funding to PDL companies in their portfolio. I wouldn't even be surprised if some of the investment vehicles being used by pensions that all employers are now being forced to provide also fund PDL companies.

Another problem is that when you follow the 'company chain' to see who is actually running the PDL industry in the UK, you discover most of them are US business/financial groups, which makes it even more difficult to trace who is funding them.

The majority of the politicians we have in government are simply not up to the task of sorting this problem out, and so they ignore it because its beyond them, thats one of the reasons nothing is being done.

[diddlydee]

Re: Sport relief piece on BBC1

I am currently waiting FOI responses from 20 councils about their investments to see how widespread this problem is - watch this space

That WILL make interesting reading. I'll sit here and wait...!

[SaltnVinegar]

Re: Sport relief piece on BBC1

That WILL make interesting reading. I'll sit here and wait...!

I have a feeling the answer is going to be more than you think. Some ones in the news in recent times:

Newcastle city council - http://www.bbc.co.uk/news/uk-england-tyne-25184874

Sunderland City Council - http://www.sunderlandecho.com/news/l...onga-1-6303430

Croydon Council - http://www.croydonadvertiser.co.uk/C...ail/story.html

Haringey Council - http://www.tottenhamjournal.co.uk/ne...852?usurv=skip

Islington Council - http://www.islingtongazette.co.uk/ne...566?usurv=skip

Edinburgh City Council subsidized The Cheque Centre to set up offices in buildings it rented out - http://www.edinburghnews.scotsman.co...700k-1-3309024

Whats more shameful is that these stories barely make local news, never mind national news. I doubt the private sector is any better as ultimately they are using the same investment firms and pensions companies, just that the response to FOI requests is usually FOI yourself (missing the I)!