Presentation on theme: "Jubilee Money Advice Service in Oswestry Registered Charity Number 1140544 Authorised and Regulated by The Financial Conduct Authority. Registration No."— Presentation transcript:
Jubilee Money Advice Service in Oswestry Registered Charity Number 1140544 Authorised and Regulated by The Financial Conduct Authority. Registration No. 618776
Jubilee Money Advice Service in Oswestry A member of Community Money Advice
CHANCE GO TO JAIL GO DIRECTLY TO JAIL DO NOT PASS “GO” DO NOT COLLECT £200 Uncontrolled debt is just as imprisoning as being in jail.
In some ways debt’s worse than prison – at least in jail the authorities feed you and keep you warm.
In debt you still have to feed yourself and your dependents – there probably won’t be enough left over to keep you properly warm in winter.
1. Mr & Mrs Average-Householder Mortgage debt £48,849 Debts other than mortgage £6,130 Total £54,979 National figures for July 2014, published in September2014 by ‘The Money Charity. http://themmoneycharity.org.uk http://themmoneycharity.org.uk
1. Mr & Mrs Average-Householder Mortgage debt £48,849 Debts other than mortgage £6,130 Total £54,979 Mr & Mrs Average-Householder have a good credit rating and can borrow from the cheapest of banks
1. Mr & Mrs Poor-Creditrating Mortgage debt £0 Debts other than mortgage £56 Total £56 Mr & Mrs Poor-Creditrating are not eligible for mainstream finance and have resorted to rolling over short-term loans charged at 4000% interest APR. Note; these figures might have overemphasised the amount that Mr & Mrs Poor-Creditrating are able to borrow because the £2245 does not include new arrangement fees every couple of months.
The bedroom tax. (aka the spare room subsidy) If you have more bedrooms than the rules deem you to be eligible for, then you are expected to either move to housing with the correct number of rooms or pay the extra amount from your disposable income. Unfortunately no one seemed to notice that there was no great surplus of housing with one or two bedrooms. Therefore few people have been able to down-size and the majority are having to pay considerably more for their accommodation than hitherto.
As long as clients are willing to go on trying, JMAS will be there for them as long as it takes – sometimes for years
Jubilee Money Advice Service is staffed completely by volunteers but it still costs about £7000 a year to offer our services to the community. Registered Charity Number 1140544 Authorised and Regulated by The Financial Conduct Authority. Registration No. 618776
If you can understand the impact that debt has How about using your experience to help others?
If you can understand the impact that debt has volunteers to train as advisors We need more to help others? How about using your experience