MALG14 Keynote Address by Zach Lewy, Founder and Executive Director of Arrow Global, considering the conference title: "Ticking the box on problem debt - job done then?"
The Sharp-tongued Short-term Loan Vocabulary You Need to Know Before Borrowing.
Visit http://www.100dayloans.co.uk/i-hate-you-payday-loans/ to see surveys, infographics and videos that will help you borrow smarter.
Ecs college graduate survey report finalExperian_US
College students may be about to receive their degrees but their credit education still needs some schooling. A national survey by Experian of college students graduating this year found that 69 percent of respondents will have student loan debt upon graduation. Despite the fact that most students accumulate debt, 71 percent of survey respondents said they did not learn about credit and debt management in college, giving their schools an average grade of C when it comes to preparing them to manage credit and debt after college.
Everyone must have heard numerous rumours about the payday loan industry and how it tries to trap the borrowers in a cycle of debt. These rumours and myths have created a negative image of payday loans in most people’s minds. There is a need to dispel some of these myths to help people realize that payday loans can prove to be an excellent financial support in emergency situations.
We are busting some of the most popular and most heard myths about payday loans.
Consumers are willing to pay for services that they find either adds convenience or delivers value. In this podcast and presentation from the 2013 NAFCU Annual Conference, Dave Schneider, Brent Dixon, and Paul Muse discuss how to expand your credit unions credit and debit opportunities and explore innovative products that can help guide your future credit union operations, including new approaches to increasing penetration, activation, and usage of the fundamental card. Also, learn to leverage new payment options that will appeal to Gen Y consumers, including Internet PIN debit, PINless at the point of sale, and payments and delivery of service through mobile.
The Sharp-tongued Short-term Loan Vocabulary You Need to Know Before Borrowing.
Visit http://www.100dayloans.co.uk/i-hate-you-payday-loans/ to see surveys, infographics and videos that will help you borrow smarter.
Ecs college graduate survey report finalExperian_US
College students may be about to receive their degrees but their credit education still needs some schooling. A national survey by Experian of college students graduating this year found that 69 percent of respondents will have student loan debt upon graduation. Despite the fact that most students accumulate debt, 71 percent of survey respondents said they did not learn about credit and debt management in college, giving their schools an average grade of C when it comes to preparing them to manage credit and debt after college.
Everyone must have heard numerous rumours about the payday loan industry and how it tries to trap the borrowers in a cycle of debt. These rumours and myths have created a negative image of payday loans in most people’s minds. There is a need to dispel some of these myths to help people realize that payday loans can prove to be an excellent financial support in emergency situations.
We are busting some of the most popular and most heard myths about payday loans.
Consumers are willing to pay for services that they find either adds convenience or delivers value. In this podcast and presentation from the 2013 NAFCU Annual Conference, Dave Schneider, Brent Dixon, and Paul Muse discuss how to expand your credit unions credit and debit opportunities and explore innovative products that can help guide your future credit union operations, including new approaches to increasing penetration, activation, and usage of the fundamental card. Also, learn to leverage new payment options that will appeal to Gen Y consumers, including Internet PIN debit, PINless at the point of sale, and payments and delivery of service through mobile.
What To Do When You Can't Pay Your MortgageHoyes Michalos
Your home is your biggest asset but you're struggling with keeping up with your mortgage payments. What are your options to deal with your debts and keep your house.
Consumers need more education on how to better manage their credit as they prepare to buy a home, according to findings from a national survey by Experian. The survey, among individuals who are recent home buyers or are planning to purchase a home, showed that consumers understand having a good credit profile is key to making their homebuying dream come true but it is one of the reasons they say they are denied a loan.
Seniors are increasingly carrying higher levels of debt into retirement which is an added risk on a fixed income. We address debt management solutions for seniors if debt levels are threatening their ability to make ends meet.
The vast majority of financial advisors are unfamiliar with the Life Settlement asset. As this white paper explains, a life insurance settlement can provide a major opportunity for financial advisors to evaluate current investments and advance client portfolios.
INSIDE WORD FROM THE LENDING SECTOR:
The Top Environmental Challenges Lenders Face
EDR Webinar
Tuesday, May 31, 2011
Dianne P. Crocker, Principal Analyst
EDR Market Research Group
Personal Finance for Engineers (Stanford CS Forum, 2018)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University in the Gates Computer Science building for the Stanford CS Forum on February 8, 2018.
Waterfall approach: Unique debt solution by taking care of your financeOak View Law Group, APC
Choosing the best debt solution for you after detailed financial analysis. Switches you to next best alternative anytime if your present plan doesn't work.
There is a simple sure-shot formula to get rich. Start saving and investing early, compound regularly at reasonable rates of return... and live a long life.
Programme for MALG's Annual Conference and Exhibition, which took place on Wednesday November 19th at the Royal College of Physicians. The theme was Ticking the box on problem debt - job done then? The event was chaired by Headlinemoney Financial Broadcast Journalist of the Year Paul Lewis.
What To Do When You Can't Pay Your MortgageHoyes Michalos
Your home is your biggest asset but you're struggling with keeping up with your mortgage payments. What are your options to deal with your debts and keep your house.
Consumers need more education on how to better manage their credit as they prepare to buy a home, according to findings from a national survey by Experian. The survey, among individuals who are recent home buyers or are planning to purchase a home, showed that consumers understand having a good credit profile is key to making their homebuying dream come true but it is one of the reasons they say they are denied a loan.
Seniors are increasingly carrying higher levels of debt into retirement which is an added risk on a fixed income. We address debt management solutions for seniors if debt levels are threatening their ability to make ends meet.
The vast majority of financial advisors are unfamiliar with the Life Settlement asset. As this white paper explains, a life insurance settlement can provide a major opportunity for financial advisors to evaluate current investments and advance client portfolios.
INSIDE WORD FROM THE LENDING SECTOR:
The Top Environmental Challenges Lenders Face
EDR Webinar
Tuesday, May 31, 2011
Dianne P. Crocker, Principal Analyst
EDR Market Research Group
Personal Finance for Engineers (Stanford CS Forum, 2018)Adam Nash
This is the version of my talk, Personal Finance for Engineers, that I gave at Stanford University in the Gates Computer Science building for the Stanford CS Forum on February 8, 2018.
Waterfall approach: Unique debt solution by taking care of your financeOak View Law Group, APC
Choosing the best debt solution for you after detailed financial analysis. Switches you to next best alternative anytime if your present plan doesn't work.
There is a simple sure-shot formula to get rich. Start saving and investing early, compound regularly at reasonable rates of return... and live a long life.
Programme for MALG's Annual Conference and Exhibition, which took place on Wednesday November 19th at the Royal College of Physicians. The theme was Ticking the box on problem debt - job done then? The event was chaired by Headlinemoney Financial Broadcast Journalist of the Year Paul Lewis.
Before choosing a mutual fund, do not go merely by past performance statistics. Choose one where the fund manager is on the same side as you are. After all, how can you trust a fund house which does not trust its own money management prowess?
A full report of proceedings at MALG's Annual Conference and Exhibition 2015, which took place at the Royal College of Physicians Wednesday 25th November.
This consumer research report looks into the current picture of debt recovery processes in the UK and the impact they have on customers, both good and bad. We've examined the behaviours, attitudes and experiences of 1,500 UK households to paint a true picture of debt recovery and who's getting it right and wrong.
Revealing the Impact: Consequences of Aggressive Debt Collection Practices in...Cedar Financial
Dive into the unfiltered truth about the consequences of aggressive debt collection practices in California. This document unmasks the impact on individuals and communities, shedding light on financial rights, consumer protection, and legal recourse against debt harassment. Explore the journey toward fair debt collection, learn about debt relief options available in California, and advocate for financial justice. Empower yourself with knowledge to navigate the complex landscape of debt collection and consumer rights in the state. #DebtImpact #CaliforniaFinance #ConsumerEmpowerment
#DebtCollectionImpact
#CaliforniaFinancialRights
#ConsumerProtection
#DebtHarassment
#LegalRights
#FairDebtCollection
#FinancialJustice
#DebtReliefOptions
#CaliforniaLaws
#ConsumerAdvocacy
Why You Promise to Start Saving "Tomorrow:" A Glossary of Behavioral Biases t...CGAP
Behavioral research can offer valuable insights on financial habits. With these insights, we can design more effective consumer protection policies. This slideshow shares some of the behavioral biases that are particularly relevant to financial products. To learn more, see CGAP's Focus Note, Applying Behavioral Insights in Consumer Protection Policy (http://goo.gl/QRF8bw).
Is Consumer Credit Counseling A Good Option For Senior Citizens? | Consumer D...Consumer Debt Counselors
Are you struggling with high consumer debt and want to couple that with a bad credit score? If so, consider entering into an agreement with a best credit counseling agency. Here are some quick facts to consider before taking this step.
Basics covering Why, What and How of structured finance. Also includes possibility of blockchain and data science use cases. The talk was delivered by Prajeesh Jayaram to students of IIT Kanpur and other colleges on 12th February 2022.
Experian Millennial Credit & Finance Survey Report Part IIExperian_US
Experian® has released additional findings from a national survey among more than 1,000 millennials, ages 19 to 34, showing that this generation struggles with using credit as a tool to enhance their lives. This struggle can be attributed to unawareness of credit terms and conditions and a mixed attitude regarding credit cards. A majority (64 percent) of survey respondents consider them “dangerous,” while almost 30 percent have maxed out a card.
Ask yourself these questions . . .
1. Are your bank covenants trending up or
down?
2. Are you paying more cash out weekly than you receive?
3. Does your family really agree with your
business plans?
4. Why are you taking this test?
These and the following questions are a self
diagnosis test of your business health. Take the test in the privacy of your own office and see how you rate on these critical risk factors.
Financial Services: Insight and TrendsNadya Powell
What do customers think of Financial Services brands? What cultural trends should Financial Services brands take note of. This deck hopefully gives you everything you need to know. Thanks to Zoe Decool for research help.
Experian Millennial Credit & Finance Survey Report Part I of IIExperian_US
Experian releases the first of two reports originating from a survey of more than 1,000 millennials, ages 19-34, about a variety of personal finance topics – from their future views, to loan status, to credit knowledge, to use of technology. The survey follows a July 2015 report from Experian that analyzed credit bureau data and placed millennials last in generational credit score rankings.
Both delegates and those connecting to the MALG conference digitally are invited to take part in a Twitter Poll that considers questions to be discussed during the panel debate on the day.
MALG has been using digital media to extend the reach of its Annual Conference and Exhibition since 2012. By 2014, its presence as a virtual, as well as real time event was established.
The first of four MALG14 workshops, considering: “Who has benefited from the April Bailiff Reforms and have we seen aggressive bailiffs disappear for good?”
A full report of proceedings at MALG's Annual Conference and Exhibition 2014, which took place at the Royal College of Physicians Wednesday 19th November.
Both delegates and those connecting to the MALG conference digitally are invited to take part in a Twitter Poll that considers questions to be discussed during the panel debate on the day.
More from Money Advice Liaison Group (conference) (10)
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
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Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
NO1 Uk Rohani Baba In Karachi Bangali Baba Karachi Online Amil Baba WorldWide...Amil baba
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
Poonawalla Fincorp and IndusInd Bank Introduce New Co-Branded Credit Cardnickysharmasucks
The unveiling of the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card marks a notable milestone in the Indian financial landscape, showcasing a successful partnership between two leading institutions, Poonawalla Fincorp and IndusInd Bank. This co-branded credit card not only offers users a plethora of benefits but also reflects a commitment to innovation and adaptation. With a focus on providing value-driven and customer-centric solutions, this launch represents more than just a new product—it signifies a step towards redefining the banking experience for millions. Promising convenience, rewards, and a touch of luxury in everyday financial transactions, this collaboration aims to cater to the evolving needs of customers and set new standards in the industry.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
NO1 Uk Divorce problem uk all amil baba in karachi,lahore,pakistan talaq ka m...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
how can I sell my pi coins for cash in a pi APPDOT TECH
You can't sell your pi coins in the pi network app. because it is not listed yet on any exchange.
The only way you can sell is by trading your pi coins with an investor (a person looking forward to hold massive amounts of pi coins before mainnet launch) .
You don't need to meet the investor directly all the trades are done with a pi vendor/merchant (a person that buys the pi coins from miners and resell it to investors)
I Will leave The telegram contact of my personal pi vendor, if you are finding a legitimate one.
@Pi_vendor_247
#pi network
#pi coins
#money
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
USDA Loans in California: A Comprehensive Overview.pptx
#MALG14 Keynote Address - Zach Lewy, Arrow Global - Slideset
1. Confidentiality notice: This document is confidential and contains proprietary information and intellectual property of Arrow Global Limited. None of the
information contained herein may be reproduced or disclosed under any circumstances without the express written permission of Arrow Global Limited.
“TICKING THE BOX ON PROBLEM
DEBT – SO JOB DONE THEN?”
Zach Lewy, Founder and Executive Director, Arrow Global
19 November 2014
2. ProprietaryandConfidential
2
JOB EXTREMELY FAR FROM DONE!
Approximately 8.8 million people in UK are
over-indebted (18% of the UK adult
population)
(Source: Indebted lives: the complexities of life in debt, November 2013)
1 in 5 lie to partners about debt
(Source: This is Money articlebased on Legal & General research, 13 November
2014 )
7% of parents in problem debt split up
as a result.
(Source: The Debt Trap – Exposing the impact of problem debt on Children, May 2014)
3. ProprietaryandConfidential
…to me, problem debt is where financial stress
impedes a customer’s ability to enjoy a
sustainable lifestyle.
3
HOW DO YOU DEFINE PROBLEM DEBT?
9 out of 10 parents in problem debt
have cut back on essential items for
their children within the last year so
they could keep up payments on debts.
(Source: The Debt Trap – Exposing the impact of problem debt on Children, May 2014)
4. ProprietaryandConfidential
4
UNDERSTANDING THE PROBLEM
• As an industry, how do we start seeking and
delivering better customer outcomes that seek
to avoid or address the problem of debt that
customers are struggling with?
• Initially, we need to take steps to analyse the
problems and the root causes
• Inevitably, we are forced to simplify the problem
into a ‘model’ or an ‘abstract’ or ‘representative
population’ so that we can analyse and test
things
5. ProprietaryandConfidential
5
ENSURING THE BEST CUSTOMER
OUTCOME
vs.
Actuarial
Optimisation
Behavioural
Economic
• Do the paradigms we use to understand
customers have significant flaws?
• The rational actor hypothesis defined as
being actuarially optimal is very risky
• In the ‘real world’ customer behaviours and
motivations deviate materially from
actuarial optimal positions
• Situational factors also bias customer
choice far away from the actuarial optimal
• Actuarial optimisation is convenient to
model but can lead to inferior customer
outcomes if misapplied to different real
world conditions
6. ProprietaryandConfidential
6
CORE PRINCIPLES ARE SUBJECT TO
CHALLENGE
Financial literacy
Financial capacity
Can’t pay vs won’t pay
Affordability
TCF
Best advice
Vulnerability
…live customer interaction!
8. ProprietaryandConfidential
8
CIRCUMSTANCES ARE ENOUGH TO
ADVERSELY AFFECT CAPACITY
• Imagine Shawn’s car has some trouble, which requires a £300
service
• Shawn’s auto insurance will cover half the cost
• Shawn needs to decide whether to go ahead and get his car
fixed, or take a chance and hope that it lasts for a while longer
9. ProprietaryandConfidential
• Imagine that your car has some trouble, which requires an
expensive £3,000 service
• Your auto insurance will cover half the cost. You need to decide
whether to go ahead and get the car fixed, or take a chance and
hope that it lasts for a while longer
• Customer solves problem by terminating insurance that he
benefited from. This improves his affordability and liquidity in the
short term but reduces shock buffers to many future challenges
including problem debts
• If this were not the actuarially correct answer, who bears
responsibility and obligation for such circumstances?
• This problem is compounded if customers suffer reduced
capacities due to problem debt conditions
9
CIRCUMSTANCES ARE ENOUGH TO
ADVERSELY AFFECT CAPACITY
11. ProprietaryandConfidential
11
SITUATIONAL IMPACTS ON BEHAVIOUR
“Your heritage is being vandalized every day by theft losses of petrified wood of 14 tons a year,
mostly a small piece at a time.”
Example 1: Arizona National Park
Example 2: Famous UK creditor’s website
Creditor 1 will take ‘enforcement action’ to get the money - you may be able to avoid this if you
contact them.
There are a number of enforcement actions creditor 1 can take to get the tax you owe. They
can:
• collect what you owe through your earnings or pension
• ask debt collection agencies to collect the money
• take things you own and sell them (if you live in England, Wales or Northern Ireland)
• take you to court
• make you bankrupt or close down your business
If you don’t pay on time, you’ll probably have to pay interest on the outstanding amount. You
may also have to pay a penalty or surcharge.
12. ProprietaryandConfidential
12
RELEVANT ALTERNATIVE APPROACH
EXAMPLES
• First meetings are relationship
outreach and not trained financial
advice sessions
• What would happen if you sent a
handwritten thank you note to a test
population of customers who had just
established payment arrangements?
• Would that population outperform a
control population that was not
personally thanked?
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DO WE APPROACH KEY ISSUES IN THE
RIGHT WAY?
• Is an I&E the right place to start? Do we need to start on a more
personal relationship level?
• What is the interplay between customer confidence and positive
customer outcomes – particularly in the long term?
• What is the impact on creditor business models from customers
who ‘fully’ recover versus those who ‘limp along’? How does
that improvement impact compare to the path dependent
negative cycles that certain creditor and advisor behaviour
creates?
• How many customers don’t seek financial advice because the
market makes it emotionally hard to access?
• How many unhelpful social behaviours do we create or
perpetuate by applying the incorrect can’t pay / won’t pay
paradigm
• How do we best help problem debt customers?
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WHOSE PROBLEM IS IT?
Problem debt costs society £8.3 billion.
(Source: StepChange )
Pay growth outstrips inflation for first
time in five years
(Source: Telegraph article based on data from Office for National Statistics, 12 November
2014)
Families in the red ‘pose threat the
UK recovery’ as household debt
more than quadruples since 1990
(Source: This is Money article based on information from financial research firm Verum,
14 August 2014)