Citizens Advice’s new figures show that regulation has significant public support. National polling, commissioned by Citizens Advice and StepChange Debt Charity, reveals:

• 8 in 10 people (83%) think that bailiffs should be subject to independent regulation.

• Almost 9 in 10 people (86%) think there should be an independent system to complain about bailiffs.

Find out more here:

• Taking Control MoJ call for evidence response – 2 page briefing
• Taking Control_ Majority of people surveyed back call for bailiff regulation as _government action is long overdue_ 15 02 2019

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As you know, my aim for this year is to continue to engage with our members in fresh and innovative ways and, as always, I’m keen to have your thoughts and insights about the best way to do this. If you would like to sit down and discuss how you and your organisation would like to develop your relationship with MALG this year, please let me know. I have already had some very engaging conversations with several of our members, which has emphasised how vital your input is to ensure we can develop our approach to member engagement and continue to grow the organisation.

MALG National Members Meeting

Thank you to everyone who attended the MALG Members Meeting on the 7th of February, and thank you to Dentons LLP in London for being such wonderful hosts. We had some fantastic speakers including Rich Sullivan-Jones, Audit Manager of the National Audit Office, Evridiki Kaliakatsou from the Money Advice Trust,  and Angela Crossley, Head of Insolvency Practitioner Regulation of the Insolvency Service. If you were unable to attend the meeting you can view the presentation slides here. The output from the breakout sessions will also be added shortly. The next National Members meeting will be taking place on the 11th of April, keep an eye on our website for further details and to book your place please email info@malg.org.uk

New Members

It gives me great pleasure to welcome two new MALG National Business members. Tully helps remove the stress of debts using an open banking powered app which lets people deal with their debts in a flexible, affordable and sustainable way. Welsh Water (Dwr Cymru) is a not-for-profit company which supplies drinking water and wastewater services to most of Wales and parts of western England. I hope you’ll join me in welcoming Tully and Welsh Water to the MALG family.

A word from National Strategic Member IncomeMax

IncomeMax are proud to announce that we have become National Strategic Members of MALG.

As a national social enterprise helping low income and vulnerable families to navigate the benefits system and maximise income, we’ve grown considerably over the last 10 years.

Our mission is to help families in the UK fully maximise their income, and we do this currently by providing friendly, professional and knowledgeable benefits and income maximisation advice over the telephone to customers referred to us by a range of partners.

BILLIONS of pounds of income goes unclaimed very year by families that could really do with this money, so we do everything we can to try and help our customers unlock that financial support.

In total, we’ve confirmed over £14 million of new income for customers since 2009. But that is just a snap shot. The actual total of new income received by customers we have advised is likely to be much, much higher.

The help we’ve had from partners to grow and advise more people has been overwhelming and we wouldn’t be where we are today without that support.

We really believe now is the perfect time for IncomeMax to become a National Strategic Member of MALG. Benefits are very rarely out of the headlines these days, with welfare cuts and the introduction of Universal Credit just two examples of a benefits system in crisis.

MALG has always been a tremendous advocate for welfare and income maximisation advice and with Universal Credit and other welfare changes becoming a cause of debt, we feel it is absolutely the right time to get involved on a deeper level, so that we can highlight benefits issues to the MALG network and, hopefully, find ways of solving issues together.

MALG South West group

The first South West group meeting took place on the 24th January and was hosted by Bournemouth Water (part of South West Water). The meeting was a huge success and I was delighted to see so many of your there, including some new faces! We had engaging discussions lead by Thomas Eyre of Nooli and LOQBOX and Gareth McNab of Nationwide Building Society. We also had an update session about the work of the FCA from Luke Tyrell. All presentations can be found here. Further meetings are set to be held in Exeter and Bath, keep an eye on our website, LinkedIn and Twitter feed for next meeting announcements.

If you are aware of any of your Regional organisations with a presence in the South West or know of any individuals who may wish to attend the launch or subsequent meetings, I’d love to hear from you. I have had a couple of kind offers of support to establish the new MALG South West Regional Committee but if you think it’s something you could be involved in please let me know by emailing info@malg org.uk

Latest news

• Financial Ombudsman Service: Dealing with debt: http://malg.org.uk/financial-ombudsman-service-dealing-with-debt/
• Bob’s Blog: Happy New Year! An exciting year ahead for MALG: http://malg.org.uk/bobs-blog-happy-new-year-an-exciting-year-ahead-for-malg/
• Citizens Advice publish research on bailiff complaints: http://malg.org.uk/citizens-advice-publish-research-on-bailiff-complaints/

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The Financial Ombudsman Service has we published their latest edition of Ombudsman news showing the current issues they’re seeing involving debt and debt collection practices as well as their latest complaints data over the last quarter.

This time of year can be bleak. With turkey and twinkling lights a distant memory, it’s back to reality. Many people will also be facing debt, exacerbated by the cost of Christmas, higher heating bills, and other expenses that peak in winter.

In 2018, Citizens Advice said people are struggling more with bills such as council tax and energy than with debt relating to financial services. This household debt sits outside the FCA’s remit – and ours as the ombudsman. But the two are linked, because in some cases they’re one of the reasons people take out loans, credit cards and other regulated debts. And these are things we can help with.

So what are we seeing, and how can we help? We’ve highlighted in this ombudsman news how businesses’ lack of empathy or flexibility can create additional problems for people who are struggling, and potentially in vulnerable circumstances. We’ll use our powers to ensure this doesn’t continue – and in some cases, tell businesses to pay compensation for the upset they’ve caused. The case studies we’ve chosen are aimed at helping businesses do things better.

But we’re also reassured by good practice we see. These positive signs are backed up in our own recent research: in complaints we reviewed in-depth, we saw a majority of debt collectors following codes of conduct, limiting the impact of unavoidably stressful situations.

The consequences of debt can escalate quickly – and where debt collection’s concerned, things may be a long way down the line before we’re asked to step in. So we’ll need to effectively prioritise cases where people urgently need our help. We’ll also need to quickly identify what’s beyond our remit, and make sure we’re signposting to other organisations who can provide support. This will often be free advice agencies or debt charities, which play a central role in helping people resolve their money worries once and for all. While the prospect of tackling your debt may be overwhelming, constructive conversations – followed up by effective action – are key to turning things round.

In this issue, we’ve asked people representing a range of perspectives – Citizens Advice, the Credit Services Association and Monzo Bank – for their thoughts on the challenges ahead. What’s clear is that debt is a complex problem, and no one organisation gets the whole picture. It’s essential we keep talking about what we’re each seeing – to help improve fairness for customers in our own regulated sector, financial services, as well as for those outside it.

debt collection – what people asked us to look into

top three issues in complaints resolved between 1 January and 31 December 2018:

• 21% whether they were being asked for the right amount of money
• 13% customer service issues, including administration errors, being contacted excessively or about debt they believed they’d repaid
• 13% that the debt they were being chased for wasn’t theirs

Caroline Wayman

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I am excited about the opportunities and plans ahead for MALG this year. January sees the launch of a brand new MALG Region in the South West and then February arrives with our first National Members Meeting of the year; further details on this can be found below. After the success of the Talk Money Conference last year, we have already started our planning for this year’s event which will be very different. I will let you know our plans in due course.

You will all know I am keen to engage with our members in fresh and innovative ways and so if you would like to sit down and discuss how you and your organisation would like to develop your relationship with MALG this year, please let me know. I have already had some very engaging conversations with a number of our members and these could transform the way in which we can develop our approach to member engagement in the future.”

MALG South West group

As mentioned above, the inaugural and first South West group meeting will be hosted by Bournemouth Water (part of South West Water) on 24th January 2019 with further meetings set to be held in Exeter and Bristol.

If you are aware of any of your Regional organisations with a presence in the South West or know of any individuals who may wish to attend the launch or subsequent meetings, I’d love to hear from you. I have had a couple of kind offers of support to establish the new MALG South West Regional Committee but if you think it’s something you could be involved in please let me know by emailing info@malg org.uk

MALG National Members Meeting

The next MALG Members Meeting to be held on 7th February at Dentons LLP, 1 Fleet Place, London EC4M 7RA. The full agenda can be found here.

We have some fantastic speakers lined up including Rich Sullivan-Jones, Audit Manager of the National Audit Office, Money Advice Trust and Angela Crossley, Head of Insolvency Practitioner Regulation of the The Insolvency Service as well as the usual regulatory updates and key dates for your diary. I hope to see many of you there and to register your place please email info@malg.org.uk.

Latest news

• Barclays announce gambling blocks: http://malg.org.uk/barclays-announce-gambling-blocks/
• Review of enforcement agent (Baliff) reforms: Call for evidence: http://malg.org.uk/review-of-enforcement-agent-bailiff-reforms-call-for-evidence/
• FCA proposes introduction of price cap on rent-to-own firms to protect vulnerable consumers from high costs: http://malg.org.uk/fca-proposes-introduction-of-price-cap-on-rent-to-own-firms-to-protect-vulnerable-consumers-from-high-costs/

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The idea is to help vulnerable customers, particularly problem gamblers, or those in serious debt.

However, all account holders can now block their own spending in a number of categories, including supermarkets, restaurants, pubs and petrol stations.

It follows pressure from charities and money experts such as Martin Lewis.

Find out more here

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The poll of more than 2,000 UK adults reveals that of those in debt, 57 per cent are experiencing debt problems and feel like they are ‘juggling’ their debts. The research was commissioned to encourage people in persistent or problematic debt to ask for help from their building society or bank as early as possible, rather than struggle alone.

Money worries can lead to emotional issues, with the research showing almost one in three (29%) feel stressed, anxious (28%), depressed (20%) and embarrassed (16%) when thinking about the debts they have. The survey also highlighted that more women experience negative feelings about their debts, with more than a third (36%) reporting feelings of stress, compared to a fifth of men (22%).

According to the survey, almost six in ten (58%) say they have never sought help with managing their debts. Among those who do seek help, just seven per cent approached their financial services provider, whereas more than a fifth asked for help from friends and family (21%).

While only a small number of Brits with debt have asked for support from their financial services provider, nearly half (45%) of all respondents stated that the responsibility for managing debt should be shared equally between lender and borrower. However, more than one in ten (12%) have used a debt counselling service in a bid to get out of the red.

Nationwide uses a variety of third parties to support members with debt issues including MALG members Payplan, IncomeMax, and Money Advice Service. Aspects of the service cover debt management, referrals to free advice and accessing income through charitable grants and welfare benefits. Support with improving and developing employment skills is also offered.

Jasper Davy, Nationwide’s Head of Collections and Recoveries, said: “Dealing with debt should be a shared responsibility. As a building society, we have a duty of care to support our members both in the good times and the difficult ones. We know that because of the debt support services we offer for free there are customers who were struggling, but who are now in work, have increased their income and are thriving.

“This research serves to highlight debt issues. It’s good to see many people are coping, but it also shows there are many people who need support. Our own experience tells us that it’s rare for someone to seek pre-emptive help. Because people can be embarrassed and anxious, they view seeking professional help as a last resort only to be used in a crisis, but there’s lots of support widely available and we’d encourage anyone who is struggling to ask for help as early as possible.”

Top tips for those in debt:

• Don’t ignore debt – make a list of all debts and don’t forget your overdraft and cards you don’t use
• Create a budget – cut back on non-essential spending and use savings to pay off expensive debts
• Shop around for cheaper deals and check if there are ways to increase your income
• Talk with your creditors or a debt advice service, many of which are free, to see how they can help

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