Debt, Savings and Credit Unions
Workshop Leaders: Michael Grayson – Debt Advisor, Pitsmoor CAB, Steve Wilcox – CAB Debt Unit; Helen Warburton and Brendon Adams– Pitsmoor Credit Union
This workshop made several key recommendations:
We need to ensure that people know their rights regarding the powers of credit companies. There are people you gain gain support and redress from such as the ombudsman.
People need to come forward to services such as the CAB earlier, before difficulties with debt escalate.
Representatives of the Credit Union noted that predatory lenders often have better opportunities to identify people to borrow money – the Government needs to progress the Consumer Credit Act with measures to cap levels of interest.
Where high street banks pull out of poorer areas they should be required to make some contribution towards an alternative.