How Much Should It Cost To Get Out Of Debt?
Money Box
BBC
4.2 • 825 Ratings
🗓️ 15 October 2022
⏱️ 24 minutes
🧾️ Download transcript
Summary
As the Government begins a sector review Money Box explores personal insolvency options and why some are much more expensive than others, plus what is a deed of assignment and might you have agreed to one? And Paul Lewis investigates a new fraud involving buy now pay later companies.
Presenter: Paul Lewis Reporter: Dan Whitworth Researcher: Sandra Hardial Editor: Clare Worden
(First broadcast, 12pm Saturday 17th September 2022)
Transcript
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| 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. |
| 0:27.4 | This is The Lucan Obsession. Listen on BBC Sounds. BBC Sounds, music, radio, podcasts. |
| 0:36.8 | Hello, welcome to this Moneybox podcast, the woman who cannot stop the tide of hundreds of threatening letters from Klarna and debt collectors for items bought in her name by thieves. And debt management companies are accused of putting their own profits first by selling clients expensive and inappropriate debt solutions. |
| 0:56.9 | But first, a money box investigation has discovered thousands of people have complained to His Majesty's |
| 1:02.5 | Revenue and Customs about companies claiming tax rebates on their behalf. Many say without their |
| 1:08.7 | knowledge or permission. Some individuals get some of the money |
| 1:12.5 | claimed in their name, but others get nothing. The complaints, nearly 2,000 in just the first |
| 1:18.4 | eight months of this year, are about what are called deeds of assignment. Now, Moneybox |
| 1:23.6 | reporter Dan Wickworth's here, he's been investigating. Dan, explain first that term deed of assignment. |
| 1:29.0 | Okay, so a deed of assignment, Paul, is when a person signs over their right to something, and that's |
| 1:34.1 | usually money related to someone else to claim on their behalf. And when used properly, it can help |
| 1:40.2 | people or companies get money they probably wouldn't otherwise manage to claim for. In the |
| 1:45.9 | whole of 2019, there were fewer than 250 complaints to HMRC about these deed of assignments. So far this |
| 1:53.7 | year, there have been nearly 2,000. And Moneyboxes learned HMRC has significant concerns. This |
| 2:00.2 | process is being abused by some |
| 2:02.6 | tax repayment companies. And how are they abusing people? Well, let's use the example of |
| 2:07.6 | Moneybox listeners John and Jenny from Hertfordshire to explain. John is 82. He's retired. And |
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