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Centre for
Responsible Credit
Changing credit for good & improving support for people with debts.
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Latest News and Views
NEWS
Employer Salary Access Schemes: Financial Friend or Foe?
Employer Salary Advance Schemes (ESAS) and loans provided with the security of 'first call' on wages are expanding. Whilst collecting repayments directly from pay helps reduce the cost of borrowing, there are concerns that the products could harm some customers. In this blog we urge providers to ensure advances and loans are affordable and for mechanisms to be put in place so financially distressed customers can easily request a suspension of payments. We also call for further research to be conducted into the impacts of the products.
Nov 21, 2023
min read
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OUR WORK IN NUMBERS
150
Million pounds per year saved for 760,000 payday loan borrowers since 2015 due to our successful campaign to cap the total cost of credit.
900
Thousand + pounds of rent being flexed by Optivo tenants this year, providing interest free help for low income households facing cash-flow problems, and linking them to wider support.
500
+ front-line debt advisers now active in our campaign to save face to face debt services from cuts.
Latest Reports and Upcoming Events
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REPORT
upcoming event
Council Tax in the cost-of-living-crisis
With increasing numbers of council on the brink of declaring effective bankruptcy and increased Council Tax arrears, there is an urgent need to reform local government finance. In this briefing we set out our position and call for improvements in funding for councils, debt advice commissioning, and the Council Tax collection regime.
Download ReportBUY NOWCouncil Tax in the cost-of-living-crisis
With increasing numbers of council on the brink of declaring effective bankruptcy and increased Council Tax arrears, there is an urgent need to reform local government finance. In this briefing we set out our position and call for improvements in funding for councils, debt advice commissioning, and the Council Tax collection regime.
BUY NOWDownload ReportREPORT
upcoming event
The drivers of illegal moneylending
Over the past two years there has been increasing concern about levels of illegal lending. But estimates of its scale vary widely. This study involved secondary analysis of the FCA's Financial Lives Survey for 2020. The findings highlight that recent small-scale surveys indicating a significant rise in illegal lending are likely to be unreliable, and that over-indebtedness and previous, legal, high-cost credit use are dangerous drivers that need to be addressed.
Download ReportBUY NOWThe drivers of illegal moneylending
Over the past two years there has been increasing concern about levels of illegal lending. But estimates of its scale vary widely. This study involved secondary analysis of the FCA's Financial Lives Survey for 2020. The findings highlight that recent small-scale surveys indicating a significant rise in illegal lending are likely to be unreliable, and that over-indebtedness and previous, legal, high-cost credit use are dangerous drivers that need to be addressed.
BUY NOWDownload ReportREPORT
upcoming event
Independent evaluation of Fair for You trials with Iceland Foods
With the cost-of-living crisis deepening, we undertook an independent evaluation of Fair for You's Food Club and Shopping Card trials with Iceland Foods. The products provided households with small sum credit at low interest rates to households. The evaluation revealed that the trials improved financial well-being and diets, and we recommend that the products be rolled out at scale.
Download ReportBUY NOWIndependent evaluation of Fair for You trials with Iceland Foods
With the cost-of-living crisis deepening, we undertook an independent evaluation of Fair for You's Food Club and Shopping Card trials with Iceland Foods. The products provided households with small sum credit at low interest rates to households. The evaluation revealed that the trials improved financial well-being and diets, and we recommend that the products be rolled out at scale.
BUY NOWDownload Report
