DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP SCHEME STARTS PAYING OUT I have asked Instant Cash Loans (ICL) what percentage rate will be paid in the ICL Scheme of Arrangement and when customers will be paid. I am told the Scheme will be paying 4.3p in the £ to customers who are due a refund. Some payments are starting this week, they are expected to complete by the end of June 2021.

PROVIDENT SCHEME

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP SCHEME STARTS PAYING OUT I have asked Instant Cash Loans (ICL) what percentage rate will be paid in the ICL Scheme of Arrangement and when customers will be paid. I am told the Scheme will be paying 4.3p in the £ to customers who are due a refund. Some payments are starting this week, they are expected to complete by the end of June 2021.

PROVIDENT SCHEME

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

THE DEBT "BREATHING SPACE" The Debt Respite Scheme – better known as “the Breathing Space” – went live on 4 May 2021.. A Breathing Space is a 60 day period while you get debt advice and find a suitable debt solution. During this 60 days, you get legal protection from your creditors for most debts and it stops interest and charges being added. EQUIFAX CHANGES CREDIT SCORES ON THE QUIET · DEBT CAMEL Equifax used to calculate credit scores for consumers out of 700. But in April 2021 it switched to calculating scores out of 1000 and has changed the bands used to describe your credit rating. Oddly Equifax hasn’t made an announcement about these changes. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. REFUNDS OF INTEREST FROM LARGE, HIGH COST LOANS & LOGBOOK The regulator says “affordable” means: you can make the repayments without hardship or having to borrow elsewhere. This is the same test as for payday loan refunds. It applies to most forms of credit, including large, long term loans and logbook loans. The payday loan refund template letter has got tens of thousands of people refunds. AMIGO'S PROPOSED SCHEME UPDATE. The Scheme of Arrangement proposed by Amigo has now been rejected by the court after it was opposed by the FCA.. See Court rejects Amigo Scheme of Arrangement for details. We do not know yet what Amigo will do. This page will be updated when there is clearer

news for customers.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional GUIDE TO FULL & FINAL SETTLEMENTS A Guide to Full & Final Settlement offers. In a Full and Final Settlement (F&F) a creditor agrees: to accept less than the whole amount to clear it ( “full” ), and. that they won’t take action to recover the rest ( “final” ). This is sometimes called a “partial settlement” and sometimes a “short settlement”. You

can offer a F

HOW TO GET A PAYDAY LOAN REFUND You can get a refund of the interest you paid on unaffordable loans. It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or if you still owe money. This article covers everything you need to get started. It’s easy, free and many people are winning large payouts. "CAN MORTGAGE LENDERS SEE OLD DEBTS, NO LONGER ON MY A reader asked: I know a debt drops off my credit file 6 years after it was settled or defaulted. I just want to ask when I apply for a mortgage, can the lender dig up unpaid debts if they are no longer showing on my credit report? DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

PROVIDENT SCHEME

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

PROVIDENT SCHEME

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

THE DEBT "BREATHING SPACE" The Debt Respite Scheme – better known as “the Breathing Space” – went live on 4 May 2021.. A Breathing Space is a 60 day period while you get debt advice and find a suitable debt solution. During this 60 days, you get legal protection from your creditors for most debts and it stops interest and charges being added. EQUIFAX CHANGES CREDIT SCORES ON THE QUIET · DEBT CAMEL Equifax used to calculate credit scores for consumers out of 700. But in April 2021 it switched to calculating scores out of 1000 and has changed the bands used to describe your credit rating. Oddly Equifax hasn’t made an announcement about these changes. WILL THE MONEY SHOP REALLY PAY 80% OF REFUNDS? NO! · DEBT So the 80p in the £ refund may turn out to be 14p in the £. In February 2020, the quarterly Scheme Update to Creditors suggested that the return may be about 10p in the £. And they warn there are “material uncertainties” around this figure. In May 2020 the estimate dropped to 3-4p in the £. REFUNDS OF INTEREST FROM LARGE, HIGH COST LOANS & LOGBOOK The regulator says “affordable” means: you can make the repayments without hardship or having to borrow elsewhere. This is the same test as for payday loan refunds. It applies to most forms of credit, including large, long term loans and logbook loans. The payday loan refund template letter has got tens of thousands of people refunds. AMIGO'S PROPOSED SCHEME UPDATE. The Scheme of Arrangement proposed by Amigo has now been rejected by the court after it was opposed by the FCA.. See Court rejects Amigo Scheme of Arrangement for details. We do not know yet what Amigo will do. This page will be updated when there is clearer

news for customers.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional GUIDE TO FULL & FINAL SETTLEMENTS A Guide to Full & Final Settlement offers. In a Full and Final Settlement (F&F) a creditor agrees: to accept less than the whole amount to clear it ( “full” ), and. that they won’t take action to recover the rest ( “final” ). This is sometimes called a “partial settlement” and sometimes a “short settlement”. You

can offer a F

HOW TO GET A PAYDAY LOAN REFUND You can get a refund of the interest you paid on unaffordable loans. It’s easy to ask for a payday loan refund using the free template letters here. The letters work if your payday loans were repaid or if you still owe money. This article covers everything you need to get started. It’s easy, free and many people are winning large payouts. "CAN MORTGAGE LENDERS SEE OLD DEBTS, NO LONGER ON MY A reader asked: I know a debt drops off my credit file 6 years after it was settled or defaulted. I just want to ask when I apply for a mortgage, can the lender dig up unpaid debts if they are no longer showing on my credit report? DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

PROVIDENT SCHEME

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

PROVIDENT SCHEME

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional

ABOUT DEBT CAMEL

About Debt Camel and its author, Sara Williams. I set up Debt Camel in 2013 to write about what really matters to people who have a debt problem and to talk about the common questions that get asked. My main aims are for Debt Camel are: to talk about peoples’ concerns about debt, credit ratings etc. to talk about debt and money decisions in a DEBT NEWS - 6 JUNE 2021 · DEBT CAMEL Debt news. Mortgages: ‘Lowest ever’ rates on two and five-year fixed mortgages launched – check if you can save £1,000s MSE: 1.17% for 5 years; House prices cannot stay at eight times earnings, but getting that ratio back to a sustainable level will be a bumpy ride Mail: Democracies cannot tolerate a situation where young people can’t afford to buy a home if they don’t have AMIGO'S PROPOSED SCHEME Hi Sara, l borrowed £2000 x 2 which I have finished paying. In 2019, l borrowed £4000, I have paid £4,250 but still owe £2,500. They say the loan will finish in December. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. WHAT HAPPENS TO MY DRO IF I GET MORE MONEY? A Debt Relief Order (DRO) is a simple and cheap alternative to bankruptcy if you are renting and have little money to spare each month to repay debts.. A DRO lasts for 12 months and during this time you must inform the Official Receiver (OR): if you receive any money or other assets, or; if your income increases. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. PROVIDENT CLOSES ITS DOORSTEP LOAN OPERATION AFTER 140 Provident closes its doorstep loan operation after 140 years. On 10 May 2021, Provident Financial Group (PFG) announced that it was closing its home credit operation, also known as doorstep lending. Doorstep lending has been at the heart of Provident’s business for most of its 140-year history. Agents would visit customers at home,

giving

WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

HOW PARDNERS WORK

How Pardners work – friends save & borrow in an informal club. Rotating Savings and Credit Associations (ROSCAs) are arrangements that allow friends to save together and withdraw lump sums from the scheme. ROSCAs are unregulated, relying on trust. The Money Advice Service says “those who use say they encourage savings and

allow

MUST YOU GIVE YOUR IVA FIRM YOUR BANKING LOGIN DETAILS Yes. See this clause in the 2016 Protocol: 8 (2) You promise to give the Supervisor whatever type of accounts or details (or both) of your income and expenditure relating to your affairs, for whatever date and period, as the Supervisor may reasonably require. Your IVA may not use those exact words but there will be an equivalent, sometimes the DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

PROVIDENT SCHEME

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional DEBT CAMEL · ANSWERS TO QUESTIONS ABOUT DEBTS AND CREDITCORONAVIRUSREFUNDS &DTRIFDEBT PROBLEMS &DTRIFDEBT SOLUTIONS &DTRIFMONEY &DTRIFLATEST &DTRIF Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit. Breathing Space – Will this help you? Credit cards – Barclaycard slashes credit limits. Mortgages – 5% deposits return in 2021. Coronavirus – Can’t pay your debts & bills? GOOD NEWS - HIGHER DRO LIMITS FROM END JUNE 2021! · DEBT CAMELSEE MORE ON DEBTCAMEL.CO.UK MONEY SHOP, PAYDAY UK / EXPRESS A “Scheme of Arrangement” is in place for borrowers from the Money Shop, Payday UK or Payday Express who were given unaffordable loans.. The Money Shop home page says:. We have calculated the final dividend amount and you will be receiving 4.31p per £1.; Where you provided us your bank details we will commence making payments from 24 May 2021.; These payments will be made MONEY SHOP SCHEME STARTS PAYING OUT The first payments are going out by cheque to customers where ICL does not have their current banking details. These cheques were being posted on 17 May 2021. These will be followed on 24 May by the first batch of BACS payments to customers’ bank accounts. Further batches will follow. All payments are expected to be made by the end of June

2020.

COURT REJECTS AMIGO SCHEME OF ARRANGEMENT · DEBT CAMELSEE MORE ON

DEBTCAMEL.CO.UK

PROVIDENT SCHEME

SUNNY CUSTOMERS OWED REFUNDS PAID AT 3.21P IN THE £ · DEBT Sunny customers owed refunds paid at 3.21p in the £. On 28 May 2021, the KPMG administrators announced they will be paying 3.21p in the pound to c 40,000 people who submitted a claim for unaffordable loans. 40,000 people is a low number as the administrators calculated that more than half a million were mis-sold loans.

BARCLAYCARD

Barclaycard – more big cuts to credit limits in 2021. In April 2021, Barclaycard is cutting a lot of customers’ credit limits. Some of the reductions are dramatic. Here is what one Debt Camel reader said: Today I received a letter from Barclaycard informing me my credit limit is being reduced from £5,000 to £250 in 1 months time. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. IS YOUR PENSION SAFE IN A DRO? · DEBT CAMEL If your DRO has completed. If your Debt Relief Order has already finished, then your pension is completely safe. You can withdraw money from it or start taking an income from it whenever you want. This may not be such a good idea as it sounds – you may have to pay a lot of tax when you withdraw the money, there may be a lot of additional

ABOUT DEBT CAMEL

About Debt Camel and its author, Sara Williams. I set up Debt Camel in 2013 to write about what really matters to people who have a debt problem and to talk about the common questions that get asked. My main aims are for Debt Camel are: to talk about peoples’ concerns about debt, credit ratings etc. to talk about debt and money decisions in a DEBT NEWS - 6 JUNE 2021 · DEBT CAMEL Debt news. Mortgages: ‘Lowest ever’ rates on two and five-year fixed mortgages launched – check if you can save £1,000s MSE: 1.17% for 5 years; House prices cannot stay at eight times earnings, but getting that ratio back to a sustainable level will be a bumpy ride Mail: Democracies cannot tolerate a situation where young people can’t afford to buy a home if they don’t have AMIGO'S PROPOSED SCHEME Hi Sara, l borrowed £2000 x 2 which I have finished paying. In 2019, l borrowed £4000, I have paid £4,250 but still owe £2,500. They say the loan will finish in December. THERE ARE STILL SOME GOOD 0% TRANSFER DEALS IN 2021 · DEBT Now in early 2021, the longest periods are 25-28 months, but there are very few of these long deals. At the same time, the fees you pay for these deals have been edging up. Not by a lot – these are still cheap! – but you are still paying more for a shorter 0% period. The average size of a balance transfer has been falling too. WHAT HAPPENS TO MY DRO IF I GET MORE MONEY? A Debt Relief Order (DRO) is a simple and cheap alternative to bankruptcy if you are renting and have little money to spare each month to repay debts.. A DRO lasts for 12 months and during this time you must inform the Official Receiver (OR): if you receive any money or other assets, or; if your income increases. PROVIDENT'S SCHEME TO CAP REFUNDS Provident is proposing to put aside £50 million to pay cash refunds in the Scheme. There are 4.3million customers who could potentially make a claim for a refund. Provident’s illustrative case assumes the total redress liabilities in the Scheme would be £500m, so this £50m would mean customers only get 10% of their proper refund. PROVIDENT CLOSES ITS DOORSTEP LOAN OPERATION AFTER 140 Provident closes its doorstep loan operation after 140 years. On 10 May 2021, Provident Financial Group (PFG) announced that it was closing its home credit operation, also known as doorstep lending. Doorstep lending has been at the heart of Provident’s business for most of its 140-year history. Agents would visit customers at home,

giving

WHAT TO DO IF A SOMEONE HAS GOT LOANS IN YOUR NAME Ways you may find out you have been a victim. Identity theft is an increasing problem. 5 steps to take when you are a victim of identity theft. 1 Report identity theft to Action Fraud. 2 Inform Experian about the identity theft. 3 Check other credit records and statements.

4

HOW PARDNERS WORK

How Pardners work – friends save & borrow in an informal club. Rotating Savings and Credit Associations (ROSCAs) are arrangements that allow friends to save together and withdraw lump sums from the scheme. ROSCAs are unregulated, relying on trust. The Money Advice Service says “those who use say they encourage savings and

allow

MUST YOU GIVE YOUR IVA FIRM YOUR BANKING LOGIN DETAILS Yes. See this clause in the 2016 Protocol: 8 (2) You promise to give the Supervisor whatever type of accounts or details (or both) of your income and expenditure relating to your affairs, for whatever date and period, as the Supervisor may reasonably require. Your IVA may not use those exact words but there will be an equivalent, sometimes the

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HELPING YOU OUT OF DEBT Will your next debt repayment be the straw that breaks the camel’s back? Debt Camel looks at your debt options and how to choose which one is right for you. It is independent, impartial and not-for-profit.

Breathing

Space – Will this help you? Credit cards – Barclaycard slashes credit limits MORTGAGES – 5% DEPOSITS RETURN IN 2021 CORONAVIRUS – CAN’T PAY YOUR DEBTS & BILLS? CORONAVIRUS – 4 STEPS TO TAKE IF YOU LOSE YOUR JOB MORTGAGES – WHAT HELP IS WHEN BREAKS END? CAR FINANCE – OPTIONS IF YOU CAN’T PAY DEBT RELIEF ORDERS – BIG CHANGES PROPOSED

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* Debt news – 30 May 2021 * Court rejects Amigo Scheme of Arrangement * Amigo’s Proposed Scheme – derailed! * Sunny customers owed refunds paid at 3.21p in the £ HELP WITH YOUR DEBTS Recommended places for debt advice

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