Summary
A new plan has been brokered to cut down on aggressive debt collection by bailiffs. Will it work amidst fears of a post-pandemic surge in debt problems?
Tesco and M&S are both closing all the personal currents accounts they operate. What does this say about the role of supermarkets as financial institutions, and what should you do if you’re affected?
Digital current account provider Pockit says it’s had to freeze around 1,000 accounts due to suspicious activity reports. A number of those customers say they are taking legal action to get access to their cash.
And how can a pension fund you have paid into disappear as charges erode its value.?
GUESTS: Joe Shalam - head of the Financial Inclusion Policy Unit at the Centre for Social Justice Peter Hahn - Emeritus professor at the London Institute of Banking & Finance Helen Saxon – banking editor at MoneySavingExpert Gina Miller – founder of the True and Fair Campaign
Presenter: Paul Lewis Reporter: Dan Whitworth Production Co-ordinator: Janet Staples Researcher: Sowda Ali Producer: Joe Kent Editor: Alex Lewis
Transcript
Click on a timestamp to play from that location
| 0:00.0 | On a winter's night in 1974, a crime took place that would obsess the nation. |
| 0:07.0 | It was an extraordinary news story. |
| 0:09.0 | The story of an aristocrat, Lord Lucan, who's said to have killed the family Nanny, |
| 0:14.0 | mistaking her for his wife, then somehow just disappeared. |
| 0:18.0 | One of the great mysteries in English criminal history. We're still looking for |
| 0:21.7 | Lucan. It's honestly one of the most powerful stories of my lifetime. I'm Alex Fontunzelman. This is |
| 0:27.8 | the Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. Hello, welcome to this Moneybox podcast. |
| 0:39.6 | Tesco has announced it will no longer offer current accounts. |
| 0:42.9 | More than 200,000 customers will have to find another bank. |
| 0:47.0 | Some customers of the pocket prepayment card are still struggling to get access to their |
| 0:51.3 | own money. |
| 0:52.3 | And how can the charges on your pension savings cut your |
| 0:55.5 | fund in half? But first, more than three million people had some sort of payment order made |
| 1:01.7 | against them last year. They owed money to councils or firms or individuals, and if they don't |
| 1:06.7 | pay, ultimately the creditors can send in the bailiffs who have the difficult job of deciding |
| 1:12.1 | who won't pay and who simply can't. And if they can't, how that enforcement is to proceed. |
| 1:17.7 | But there's no independent oversight of the people who are now officially called |
| 1:21.9 | enforcement officers. So this week, the Centre for Social Justice think tank proposed a new enforcement conduct authority to take on the role of policing the bailiffs. |
| 1:33.9 | With me is Joe Shalham, head of financial inclusion at the Centre for Social Justice. |
| 1:38.9 | Joe Shalam, what are the problems with making people pay debts that make you believe we need a new regulator? |
| 1:45.8 | Well, hi, Paul. |
| 1:46.7 | First of all, thanks so much for having me. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from BBC, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of BBC and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.