Driven Into Debt 

The NE London Fabian Society is a member of the national Fabian Society which aims to promote:greater equality of power, wealth and opportunitythe value of collective action and public servicean accountable, tolerant and active democracycitizenship, liberty and human rightssustainable developmentmultilateral international cooperationThe society is a place for open debate where disagreement is expected and respected. As an organisation we have no collective positions and we do not campaign for particular policies. Everyone who writes or speaks for the Fabians does so in their own name, without committing the society.https://fabians.org.ukhttps://www.nelondonfabians.org

NE London Fabian Society

This is the first in a series of events organised by the <A HREF="https://www.nelondonfabians.org" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">North East London Fabian Society </A>focusing on personal finances. Discussing ways to protect vulnerable borrowers and provide affordable, accessible alternatives to high-cost credit.
Leading on from <A HREF="https://www.nelondonfabians.org/mitchel-johns/call-for-a-total-cost-cap-on-all-forms-of-consumer-credit" TARGET="_blank" DATA-MSYS-CLICKTRACK="0" REL="nofollow noopener noreferrer">this thinkpiece </A>published by the North East London Fabians on the call for a total cost cap on consumer credit, this event aims to explore how lenders are able to extort customers and the ways in which we can stop them.
In the UK 9.3 million people are estimated to be struggling and resorting to credit as a means to cover their everyday living costs. Others find themselves caught in a debt trap due to unexpected events in their lives such as losing their job or becoming ill. Often people have no access to mainstream borrowing options, instead using products like high-interest credit cards, unarranged overdrafts or payday and doorstep loans. Over 4 million are in persistent credit card debt, paying back on average £2.50 for every £1 borrowed. A third of customers do not fully understand the interest rates they are paying - and the Financial Conduct Authority (FCA) says customers using high-cost credit are among the most likely to have a physical or mental health condition.
By using innovation and legislation how can we reform the credit market and prevent people from being targeted and exploited by predatory lenders?
To Chair this panel discussion we have invited Bilal Mahmood, Parliamentary candidate for Chingford &amp; Woodford Green 2015/17
We are fortunate to have the following speakers:  
<UL>
<LI>Stella Creasy - Member of Parliament for Walthamstow</LI>
<LI>Damon Gibbons - Director at Centre for Responsible Credit</LI>
<LI>Hilary Powell - Optimistic Foundation</LI>
<LI>Dan Edelstyn - Optimistic Foundation </LI>
</UL>
This is an event not to be missed. 
Registration will be from 18:30. The event will start promptly at 19:00. 
<H3>Sign up, share the event and invite your friends!</H3>
 
The image used to promote this event was taken from the Money101 website.

Hoe Street Central Bank (HSCB)

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Driven Into Debt

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