Money Box Live: Are you worried about debt?
Money Box
BBC
4.2 • 825 Ratings
🗓️ 15 March 2023
⏱️ 30 minutes
🧾️ Download transcript
Summary
The problem of debt is never too far from the headlines at the moment. This week a group of charities - Citizens Advice, Step Change and Christians Against Poverty - told the BBC they're seeing record numbers of people coming to them for help with problem debt. Why is that and what can people who're worried about debt do? We'll also look at the "Buy Now Pay Later" industry as the government looks impose regulation on the sector for the first time. And we'll talk about when credit can be used in the right way. All that and more with our panel of experts, Sarah Pennells, a consumer Finance Specialist at Royal London and Richard Lane, policy Director at debt charity Stepchange.
Presenter: Dan Whitworth Producer: Sarah Rogers Researchers: Jo Krasner and Star McFarlane Editor: Jess Quayle
(First broadcast 3pm Wednesday 15th January, 2023)
Transcript
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| 0:00.0 | You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one. |
| 0:06.5 | I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds. |
| 0:11.2 | I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects, |
| 0:16.0 | relationships, identity, comedy, even one that mixes poetry, music and inner city life. |
| 0:22.4 | So one day I'll be helping host develop their ideas, the next fact-checking, a feature, |
| 0:28.3 | and the next looking at how a podcast connects with its audience, and maybe that's you. |
| 0:33.6 | So if you like this podcast, check out some others on BBC Sounds. |
| 0:39.5 | BBC Sounds, music, radio podcasts. |
| 0:43.3 | Hello, welcome to this podcast of Moneybox Live, the program about you and your money. |
| 0:48.8 | Today we're talking about debt. |
| 0:50.8 | Are you in it? |
| 0:51.7 | Can it be a good thing? |
| 0:53.0 | Are you struggling with it? One thing's for sure. |
| 0:56.0 | Debt is never far from the headlines during these tough times. |
| 0:59.0 | Higher bills, Christmas credit, rising prices. Debt charities are calling for more funding and more |
| 1:06.4 | support as they face what's been described as a tidal wave of clients who are struggling to manage. |
| 1:12.3 | We are another step closer to having by now pay later loan products regulated and consumers |
| 1:17.5 | offered more protection. The BBC has been speaking to David McGinley who owed £7,000. |
| 1:23.7 | I don't know it's our fault we got into that, but we've had no choice. |
| 1:28.3 | And just this week, a number of charities said they saw record requests for help last month from people with problem debt. |
| 1:35.3 | And as you've just been hearing, the buy now pay later industry came under the spotlight again this week |
| 1:40.3 | as the government published plans to regulate the sector for the first time. |
... |
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