Campaigns / News
Money A+E believe it is vitally important for people in the community to have a voice. That is why we get involved in campaigns that transform, benefit and make a difference in people’s lives.
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Getting involved in Social Change for the local community has been an eye opener and refreshing.
Greg
Money A+E Director
Plaistow money advice organisation calls for stiffer penalties to tackle rogue bailiffs
That’s the view of co-founder of Plaistow based non-profit organisation Money A+E ,Gregory Ashby, who listed a catalogue of concerns about debt collectors’ behaviour towards people in debt.
Mr Ashby said: “From our experience, there is still much improvement needed in debt recovery practices.
“It is often extremely difficult for residents to get bailiffs to agree to affordable repayment schemes. This leads to the original debt accruing additional fees and becoming unrepayable.”
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He claimed that a £40 parking fine could rocket up to a £600 debt through extra charges from bailiffs who can use intimidating behaviour to extract money from people in debt.
Mr Ashby said clients had come to the charity with problems over added fees with firms claiming payment for home visits which never took place, threats to seize items not belonging to them and refusing to accept affordable repayments.
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“There needs to be stiffer consequences for bailiff firms when they act inappropriately,” he said.
Read more in Newham Recorder:
Money A+E Campaigns against exploitative lending
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We campaigned to address the high interest levels on loans from payday lenders
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Our trained Money Mentor students raised awareness of the negative impact of exploitative lending in poorer communities.
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We Campaigned with Citizens UK and others and we contributed over 300 names to 1000 signatures for a petition to ban the advertising of Payday lending in Newham. The council brought about a ban on payday loan advertising on all council controlled institutions and services.
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We also jointly campaigned and had discussions with the FCA to bring about a cap on the total cost of credit.
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This lead to FCA cap of 100% for the total cost of credit on all payday loans on or after 2nd January 2015.
Read more in Newham Recorder:
Money A+E teach NewVic students about better money management
Read more in Newham Recorder:
Newham Sixth Form College students got stuck into dishes of the stuff on Tuesday in a blind tasting while learning about how to make savings.
Twenty youngsters, who have started their own business projects making and selling products such as T-shirts and candles with henna designs at Plaistow youth market, took part in the day, organised with money advice service Money A+E. The non-native English speakers and foundation level students dined on different brands of beans, lemonade and crisps to see which they prefer - the expensive, branded choices or the cheaper varieties.
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Twenty students also tasted lemonade as part of the workshop.
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By the end of their baked bean feasting, students were shocked to discover they had chosen the cheapest as the best tasting.
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It is hoped the college’s money management workshop will teach a key life skill with a parliamentary report out last year showing 20 per cent of 18 to 24-year-olds in the UK over-indebted.
It was a very engaging workshop. The message was everyone has taste, but if you’re trying to save money buying something not branded is going to give you a saving. Our students were really receptive to the idea.
Dr. Steven Kern, NewVIc’s student development leader
It’s quite wonderful really. The students make money while they’re learning. They love running their own businesses.
Steven added commenting on the enterprise programme
That worked out nicely. It reinforced the message to shop around for best deals and that brand names do not necessarily mean the best tasting.
Steven noted
Newham Sixth Form College students tried different brands of beans whilst learning about how to make savings. A tin of baked beans is a tasty treat for some, but for others the humble dish offers useful lessons in money management.
Independent Evaluation from University of East London’s Centre for Social Justice and Change showed that our Money Champions successfully builds financial confidence and wellbeing. Just 50% expressed confidence in managing finances before the training compared to 97% after and overall sense of wellbeing was increased from 53% to 95%.
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Lambeth Council Financial Resilience Strategy 2016 (pg13)’, showed It is an effective early intervention, directing people to appropriate services, and reducing debt.
Over 300 Money Champions trained in Newham and Lambeth and have supported 1000s of people.
The resilience report showed that;
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Over 65% of those who spoke to a Money Champion found the guidance.
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40% went on to see a reduction in their rent arrears and 30% started paying off debts.
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​We have recently been involved in discussions with DWP in an attempt to use this programme and looking at multiple ways of mitigating the effects of welfare reform on low income and excluded groups in our communities.
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Money A+E at UEL Centre for Social Justice and Change
We aim to support actions that would help mitigate the impacts of the housing crisis in London. We recently campaigned with other community groups as a member of Citizens UK on the West Ham football ground housing development in Newham.
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We successfully campaigned for an increase in affordable housing from 0% to 35% on the site with support from the local communities.
Money A+E jointly campaigns for more affordable housing - West Ham
