Voluntary Action Rotherham

A new report produced by UNLOCK and the Prison Reform Trust outlines the importance of financial inclusion to ex-offenders when they leave prison. The problems getting a bank account, insurance and housing are discussed in the report as the key problems facing ex-offenders on leaving prison. Housing and emploment are central to ex-offenders resettling outside prison, but barriers to financial services, together with ongoing debt are seriously damaging the chances for ex-offenders. The report also highlights the often neglected impact on the families of offenders and the lack of support available to them.

For the BBC News story click here.

Download the report here or visit the UNLOCK website.

The Office of Fair Trading and Age UK have launched an initiative to highlight the risks to older people of rogue doorstop traders offering to carry out home improvements as the weather turns colder. People are being advised to be careful and to be consider that offers that appear too good to be true, often are.

For more on this story click here.

A survey produced by USwitch, has revealed that the lack of financial knowledge of Britons resulted in £250 million being spent in additional charges on financial products because consumers were not properly aware or informed about terms and conditions.

1,235 adults were surveyed, and of these 70% of people believe debt problems to be a result of a lack of financial education, with less than one in ten saying they considered themselves well-educated about personal finance. The survey highlights the lack of any structured financial education, with only 4% saying they learnt through information provided by the banks, and 81% through trial and error.

The press release is available here.

For more on this story click here.

The Guardian have reported that following an Office of Fair Trading review into the debt management industry, 129 firms have been issued warnings by the OFT. Currently many firms are operating in disregard of the OFT's Debt Management Guidance and misleading people as to the costs and benefits of their services. The most common example of this was cited as adverts suggesting a free service to reduce debts, that in fact incurred fees and could result in an increase of someone's indebtedness. The OFT also criticised the poor quality of information and advice provided by frontline staff.

These companies should not be confused with free debt advice services available from Citizens Advice Bureaux and the Consumer Credit Counselling Service, among others.

For the full story click here.