The Impact of Debt on children

#Debtline Problem debt is putting stress on family relationships, damaging children and trapping families in a downward spiral of borrowing, according to The Debt Trap , a new report from The Children’s Society and StepChange Debt Charity.
Two and a half million children live in families with problem debt, who are behind on £4.8 billion of household bills and loan repayments. A further five million children are in families that are struggling to keep up with repayments and risk falling behind.
the result of the debt issues in a family can be;

  • Bullying - Children in families with problem debt are more than twice as likely to be unhappy at school and be bullied because they don’t have the same things as their friends.
  • Worry - More than half of children (58%) in families with problem debt say they worry about their family’s financial situation.
  • FamilyHalf of children in families with problem debt (47%) say it causes arguments in the family.
  • Going withoutNine out of ten families in problem debt say they have had to cut back on essentials like food, clothing or heating for their children in order to keep up repayments.
  • Early exposure to debtMore than half of children aged 10 to 17 said they saw advertising for loans ‘often’ or ‘all of the time’. But only one in five children said that their school had taught them about money management and debt.
Do you owe money; have bills you cannot meet; is debt affecting your family? Take control of the situation and move forward with your life contact Twinpier

Social Housing

#debtline People are struggling to make ends meet even in the cheapest form for housing. The Citizen's Advice bureau has stated that there has been a 16% rise in rent arrears within social housing sector and a 26% rise in threats of repossession within this sector.
Add to this the changes in housing and council tax benefit it has made the situation extremely difficult this is reflected in the increase of enquiries about discretionary housing benefit payments which can be paid on top of housing benefit, when housing benefit does not meet all the rental costs; enquiries for this type of payment has increased by 110%.
Are you one of the many struggling to pay rent are you paying other debts first as they are more demanding. Please contact Twinpier for advice.

One pay cheque away from losing your home

Shelter has warned that almost 4 million people are just one pay cheque away from losing their home.   The charity has warned that 44% of working families only has enough money to make one months payment towards their rent or mortgage if they lost their job tomorrow and couldn't find work straight away.

Within that 4 million figure yougov found that 2.9 million would face face the immediate threat of eviction as they had no savings at all.

Do you struggle to make ends meet? Are you using credit for everyday living? Are you facing repossession or eviction please contact Twinpier

County Court Forms Fee Exemption

#debtline #debtdebate Have you received a county court claim which you are late responding to so its no longer free? Or do you need to have claim set aside but cannot afford the court fee. You can fill out a a fee exemption form called and EX160. Please find a copy of this form on our website along with the guide for filling it in. For help with other debts please contact Twinpier

New Bailiffs Powers come into force

New bailiffs rules come into force on on 6 April 2014 and follow the Ministry of Justice consultation on the debt collection industry last year.

They are part of a wider package of reforms to the Tribunals, Courts & Enforcement Act 2007.

·     A ban on bailiffs entering homes at night and from using physical force against debtors.

·     Bailiffs will also be prevented from entering homes when only children are present, and from taking household essentials such as washing machines.

·      Ban landlords from using bailiffs to seize property for residential rent debts without going to court first

·      Introduce mandatory training and certification for bailiffs

·      Ensure vulnerable people get assistance and that bailiffs are trained to recognise them

·      Introduce clearer rules detailing when a bailiff can enter a property and what goods they can take

·      Bring in restrictions on when bailiffs can sell goods

·      Require bailiffs to tell the court the likely means of entry, goods involved and amount of force required before a warrant is granted to force entry, as well as provide details of how the premises will be left in a secure state afterwards

·      Force bailiffs to give seven days' notice before taking possessions, unless they have specific permission from a court

·      Introduce fixed fees, ending the ability of bailiffs to add excessive charges to the amount debtors had to pay

Do you need help with bailiffs contact Twinpier

The Bank of Gran and Grandad

Have you asked your family to lend you money. More than one in three over-65s have helped pay off debts of more than £2,000 for children or teenage grandchildren, the research from MetLife shows.
As many as 17 per cent of the over-45s have helped out their teenage children – and this proportion doubles for over-65s helping out adult children and teenage grandchildren.

Of the 32million Britons with existing unsecured borrowing such as credit cards, overdrafts or loans, as many as nine million will move further into the red to cope this year, the poll from MoneySupermarket found. 
Furthermore two-fifths of people in debt are forced to rely on credit in order to pay their way day-to-day, be it a credit card, personal loan, overdraft, store card or finance agreement. 

Are you using credit for everyday living, are you borrowing money to pay bills? Need help with debts and settling them contact Twinpier