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Oldhamers’ debts rise to £6m, says charity

Date published: 05 September 2014

THE Citizens’ Advice Bureau is dealing with £6 million of debt among Oldham residents - and almost 1,000 people have struggled to repay payday loans in the past 12 months.

The figure is an increase of nine per cent on the previous year - and doesn’t include residents being helped by specialised debt charity StepChange.

Councillor Abdul Jabbar, cabinet member for finance, said. “The fact is pay hasn’t increased in line with inflation.

“Changes to the bedroom tax, and council tax increases, are contributing to a number of substantial factors that mean the people of Oldham can’t pay their bills.”

StepChange is lobbying the Financial Conduct Authority to impose a stricter cap on the amount a payday loan company can charge as interest. The FCA is proposing no one should pay back more than twice the amount borrowed. StepChange believes that is still too high.

Comments

And how much of this debt has been accrued as a result of individuals having their benefits sanctioned?

We all have to watch our money and pay bills so they should manage their money better, bet all those in debt have big cars, they should go first. They all get enough hand outs off the government so you should live within your means and not asking for more. And also those British jihadis that left our country to kill and fight over in the Middle East should not be allowed back into England they chose to go there after all. Will these same people be ready to fight for Britain when IS attack us?

On the flipside shaun how much of it is borrowing to finance a lifestyle outside the reach of their earnings? Bigger car TV, holiday etc etc?

And how much of it is down to rapacious payday loans companies who make more from defaulters than they do from the actual loan.

Or Shaun How much of the debt is a result of 13 years of deliberate labour policy to inflate house prices beyond all sanity (continued by the tories). A massive debt bill caused by labours love in with the banks and Gordons spend, spend, spend mantra?

Am not suprised,as if you change from jsa to esa (with sicknote) they suspend your claim that day and tell you to ring new claims,then dont pay housing ect thus at risk of debt and being made homeless by fch.Both departments in dwp need sacking,as its not your fault your sick with an injury.

 

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