A debt help charity is seeing growing numbers of people falling behind with fuel bills and a resurgence in the proportion of clients with high-cost credit such as payday loans. StepChange Debt Charity said the proportion of clients in arrears with council tax is also "stubbornly high". In the first half of 2018, 13.1% of all new clients were behind on a gas or electricity bill compared with 11.4% in the first half of 2017. The charity said the increase coincides with some companies having already raised prices this year. While some customers could potentially reduce their bills by switching, those facing financial difficulty may be nervous of the complexity of price tariffs and wary of being caught out and put in an even worse financial position, StepChange said. It wants more utility providers to establish flexible repayment schemes, as well as sharing effective good practice on working with people who are struggling to pay to minimise their costs. Just over 60% of the charity's new … [Read more...] about Fuel bills and council tax pushing people into debt the fastest charity reveals
National government debt
Benefit overpayments & tax chased harder & create more suffering than other debt
Debt collections by the Government and councils have been described as aggressive and frightening by a charity. Almost half of all clients helped by Christians Against Poverty have debt with the Department for Work and Pensions and the taxman. A study from CAP into clients struggling with debt reveals that while the practices of private companies chasing debt have become more customer focused, those owing council tax or benefit overpayments were being chased harder and suffering more. The charity wants the long-awaited Breathing Space scheme – a six-week break from mounting fees and charges, and being chased by creditors – to give people the relief they desperately need from spiralling debt problems. "Totally unacceptable" Matt Barlow, CAP’s chief executive, said: “While we’ve seen improvement in some of the private sector’s debt-collecting practices, it is totally unacceptable that some of the most aggressive debt collecting in our nation comes from … [Read more...] about Benefit overpayments & tax chased harder & create more suffering than other debt
Major catch in the secret fund left by dead donor to pay off the national debt
The Government has launched a dramatic legal bid to swipe £400million from a mystery dead donor who wants to pay off the national debt. The National Fund was set up with an anonymous £500,000 gift in 1928 - but one major catch means that it has so far been untouchable. The terms of the bequest stipulated that it should be only used to pay off the entire national debt. Despite growing 800-fold in value since the original £500,000 donation, the fund has never been sufficient to clear all of the nation’s debt. It has therefore remained locked in the specially created National Fund. The Fund has since grown to £400million, but is dwarfed by the debt - which in December was estimated at £1.7trillion. It has never been worth more than 0.066% of the national debt. Attorney General Jeremy Wright filed documents at the High Court, urging judges to alter the terms of the trust fund and release the money for its intended use. Mr Wright said: “Almost 90 years … [Read more...] about Major catch in the secret fund left by dead donor to pay off the national debt
China Spent International Workers’ Day Shaming People With Debts
While laborers all over the world spent May Day marching in the streets and demonstrating for worker’s rights, China’s government spent the holiday shaming citizens with outstanding debts by plastering their faces and personal information on giant screens. The South China Morning Post reported the Shushan District Court in the Anhui province decided to publicly out debtors on billboards and TVs located in public areas. The attempt to humiliate people with unpaid debts was done at peak traffic hours during the national holiday in order to expose them to as many people as possible. The shaming effort posted the names, identity number, amount owed, and other information for each debtor. A photograph of the so-called “deadbeat borrowers” also accompanied their personal information. A total of 110 people had their information aired on advertisement screens located at more than 300 bus stops around the city of Hefei, which has a population of nearly eight million. The … [Read more...] about China Spent International Workers’ Day Shaming People With Debts
No, you cannot get rid of your tax debt for pennies on the dollar
Democracy Dies in Darkness Sections Home Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Get There Perspective Perspective Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events by Michelle Singletary by Michelle Singletary Email the author May 1 at 3:19 PM Email the author For some Americans, tax season doesn’t end April 15. (J. David Ake/AP Photo) For many Americans, the tax season is over. Their federal tax returns are in, and they’ve made vacation plans knowing they can pay for their fun in the sun with a fat refund. But then there are those who owe. For them, there is the ticking time bomb of their tax debt, plus … [Read more...] about No, you cannot get rid of your tax debt for pennies on the dollar