Skip to main content

Institute of Money Advisers & Debt Talk

As debt advisers spoke about the challenges faced in the debt advice sector under the contract of Money Advice Services, Ripon Ray shared a new way to learn about the sector after the pandemic.

Nearly 90 debt advisers attended today's Institute  of Money Advisers Group Meeting as Debt Talk was introduced to the agenda. 

Debt advisers accepted a new 'norm' and that is: face to face only learning to meet their regulatory obligation is no longer an option. During such an  occasion,  Ripon Ray introduced Debt Talk podcasts to debt advisers: learn about the debt sector in your own time through podcasts.

Debt Talk was designed to bring experiences of debt clients in the public domain since many of these clients bring a broad range of issues to debt advisers which include mental health, addiction, multiple debts and cost of living - to just name a few things.

Along with Debt Talk, Ripon Ray spoke about a monthly Debt News which would bring snippets of debt related news from a variety of sources from welfare rights, gambling, civil enforcement and the Financial Conduct Authority. 

The purpose is to raise British debt sector to the general public for public interest. This initiative would also bring transparency to the work of debt advice. 

At the same time bring different aspects of the debt sector closer with other related sectors as we encounter a wave of change during the cost of living crisis.

Thank you Institute of Money Advisers to let Ripon Ray speak about Debt Talk and Debt News!



Popular posts from this blog

Budgeting on Your Money Matters...with Ripon Ray

24% greater than on the eve of the financial crisis, Britons owe a total of £72.5bn on credit cards with £400m added to balances in November 2018 alone, according to the Bank of England. In such a mountainous backdrop, it's essential that regulators and the central government put financial education on top of the agenda for the well-being of communities who are struggling with money. On Your Money Matters show, I have tackled this exact issue by interviewing Michelle Turpin Cope, Money Trainer. She personally struggled to manage her money once she resigned from her job as a nurse due to stress and depression. She had devoted her life caring for NHS patients. Once her savings ran out, she had to turn to state benefits; otherwise, would have been destitute. The luxury of spending money on a cup of coffee every day, without realising the impact this purchase would have on her finances, was really an issue for her. Once she went on a money mentor training, she was forced to

A debt free path for a mental health sufferer

It’s a well-known fact that individuals who suffer from a hampered mental capacity - be it mental health or learning difficulties - are most likely to be vulnerable in our communities. They are also more likely to be victims of miss-sold products and services by companies, even though organisations that are providing financial products and services have a duty under the Financial Conduct Authority (FCA) to take extra care towards these individuals. This is what the FCA has to say about vulnerable customers: ‘  The vulnerability of the customer, in particular where the firm understands the customer has some form of mental capacity limitation or reasonably suspects this to be so because the customer displays indications of some form of mental capacity limitation  (see  ■  CONC 2.10) But due to a culture of intensive selling to consumers, generated by employers placing and enforcing - often difficult and unrealistic - performance goals which are attached to tempting

The Post War Welfare State is crumbling - who is to blame for it? Asks Ripon Ray

The current welfare state changed in such a way that a true reflection is required as to how this has come about and and its context. Post Second World War, the Attlee government nationalised  the Bank of England, the coal industry, the Central Electricity Generating Board and area electricity boards, Cable & Wireless Ltd, the railways and the local authority gas supply undertakings in England and Scotland. It introduced free education for all by nationalising institutions which were either provided by parishes or philanthropists. The National Health Service was formed and made accessible to everyone regardless of ability to pay.   If you were unemployed there was infrastructure to support you when you could not afford to pay by creating the welfare system as you see today. The expenses of running such a nationalised state was met by cheap loans borrowed from overseas, contributions made by tax payers and companies in times when Britain was losing imperial dominan