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dispatches tonight 7 Dec on channel 4 - Christmas on Credit

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As banks and building societies close their doors to all but the least 'risky' borrowers, Dispatches reporter Jane Moore investigates a highly lucrative financial industry that has stepped in to provide loans to the millions of people denied credit elsewhere.

She discovers that many of the loans offered by some of these doorstep operators, payday lenders, and rent-to-buy companies come with sky-high interest rates that can financially overwhelm families already steeped in debt. And the sting in the tail is that these loans are entirely legal.

While the Bank of England's rate remains at an all-time low, these companies are able to charge whatever interest they like.

The programme asks why the Government has resisted calls to impose interest rate 'caps' on the various loans on offer, allowing the market to be so under-regulated that foreign loan companies are switching their operations to Britain.

In the run-up to Christmas, the impact of these high interest rate charges can be financially devastating for some families. Dispatches visits areas of the country where whole streets, and sometimes virtually entire estates, are in hoc to such lenders.


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http://www.consumeractiongroup.co.uk/forum/brighthouse/237068-channel-4-tonight-dispatches.html

 

it also featurse Brighthouse that well known "X&*$£%" company


PGH7447

 

 

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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The programme asks why the Government has resisted calls to impose interest rate 'caps' on the various loans on offer, allowing the market to be so under-regulated that foreign loan companies are switching their operations to Britain."

 

This has already occured in the late 90's, when the American Bank Credit Card Providers came in their droves to the UK;

they thought the streets of (non-regulated) Britain were paved with Gold...

 

Both Blair and Brown were responsible for the all the irresponsible lending that followed;

they did nothing, just as our present Government are doing now!

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christmas on credit channel four 8.00 pm 7th


'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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I watched Eastenders but was disappointed, should have watched this, any good?

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its on 4+1 now


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Whilst I welcome the Dispatches program I do have 2 criticisms the 1st being the reporter stated that consumers have to consider 'buyer beware' (Caveat emptor) this is rubbish its the duty of the retailer to ENSURE the customer know what they are getting into

 

2nd when the minister kept claiming 'consumer groups' has asked the government not to intervene in the extortionate rates the reporter should have asked that he identify them so she could ask them why they considered such lenders should be allowed to act with impunity when they claim to be protecting the consumer

 

It's unfinished business I want to know the names of the 'consumer groups' he claimed lobbied him to NOT act

 

Also seeing Ian McCartney's rant about extortionate rates made me laugh he was the minister who revoked amongst other things sec 127 of the CCA thereby considerably weakening consumer protection

Edited by JonCris

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focus on Brighthouse, we have a thread on them, also Provident, Payday Loans via Money shop etc, and question asked why Uk allows the sky high apr these companies charge, official reply was stated to be that it would drive the poor into the hands of the unregulated loan sharks - make what you will of that!


'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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Yes I noticed he kept saying consumer groups, well which bloody consumer groups - talk about inept investigative reporting


PGH7447

 

 

Getting There Slowly

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Advice is given freely but is in no way meant to be taken as Gospel:-)

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Yes, saw it, swore at TV. Disgraceful. Dispatches says they only monitored the Cumbernauld store and couldn't comment on what else went on, they could have checked here, they would have found plenty more stories! :mad:

 

Govt mouthpiece says regulation would drive business away and therefore people would go for unregulated. In other words, it's ok to get fleeced, as long as the taxman gets his cut too! :rolleyes:

 

Kudos to France where yet again, they are a whole marathon of steps ahead of us when it comes to finance, imagine that, a MAXIMUM APR of 21.3%! Credit card providers, Provident, Brighthouse, store cards, catalogues and so on would be LIVID, my dear! :razz:

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Whilst I welcome the Dispatches program I do have 2 criticisms the 1st being the reporter stated that consumers have to consider 'buyer beware' (Caveat emptor) this is rubbish its the duty of the retailer to ENSURE the customer know what they are getting into

Yep, that's the bit I was really got into my stride swearing at the TV. :mad:

 

2nd when the minister kept claiming 'consumer groups' has asked the government not to intervene in the extortionate rates the reporter should have asked that he identify them so she could ask them why they considered such lenders should be allowed to act with impunity when they claim to be protecting the consumer
Damn right.

 

Also seeing Ian McCartney's rant about extortionate rates made me laugh he was the minister who revoked amongst other things sec 127 of the CCA thereby considerably weakening consumer protection
I did NOT know that. :mad: He was the only one in the programme I was nodding along to, very disappointing. :mad:

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For anyone who wants a copy of this programme i recorded it last night and will be happy to send it to whoever wants it.


:cool::cool: Blondmusic :cool::cool:

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Also seeing Ian McCartney's rant about extortionate rates made me laugh he was the minister who revoked amongst other things sec 127 of the CCA thereby considerably weakening consumer protection

 

New Labour - new duplicity.

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I'm sorry to say it but it was another missed opportunity... I mean why did Jane Moore only highlight the fact that the charge for credit was extortionate? Why not highlight the disgraceful charges levied on these products too which ramp up the cost for people who are struggling.

 

Why were no consumer groups on the TV?

 

Why were there no customers who failed to claim on the "optional service cover"?

 

Why the hell did they have a woman complaining about Provident's sales tactics who WORKED THERE FOR 22 YEARS and was sacked?

 

Like I said... missed opportunity and lazy journalism. I could do better myself... who is with me? I honestly think we can commission our own programme... perhaps a 2 parter? If a movie costing $3000 can get to No.1 in the US chart then we can make a mini documentary with enough bodies and actually get to the nitty gritty.

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To be fair to C4, one of the problems with programmes like this (I was involved in a Dispatches programme, and have provided technical advice for another, and for a couple of other factual programmes), is that a vast amount of information has to be squeezed into a short time, presented in a way that someone who knows nothing about the subject will understand, and be entertaining. A huge amount of footage will have been shot - and then edited. I think that overall last night's programme achieved its aim.

 

The only criticism I would make is that the part with the reporter using a megaphone took up too much time; the facts could have been presented in a more straightforward way.

 

The programme demonstrated how Brighthouse and the like prey upon people, and how the government has signally failed to regulate interest rates. Not bad for an hour including ad breaks.

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To be fair to C4, one of the problems with programmes like this (I was involved in a Dispatches programme, and have provided technical advice for another, and for a couple of other factual programmes), is that a vast amount of information has to be squeezed into a short time, presented in a way that someone who knows nothing about the subject will understand, and be entertaining. A huge amount of footage will have been shot - and then edited. I think that overall last night's programme achieved its aim.

 

 

Style over substance then ;-)

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You can also watch this online if anyone missed the programme...

 

Dispatches - 4oD - Channel 4


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Style over substance then ;-)

 

Maybe, and I agree that Dispatches has become rather more tabloid in style of late, but better than nothing.

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Compared to Panorama these days, Dispatches is a model of thoroughness and in-depth journalism. :rolleyes:

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yes, even USA has put a cap on it, I thought the exercise to demonstrate just how much more the poorest pay for their goods compared to the others was good, demostrates what we all knew, the poor pay for the rich, what was that recent case where a judge talked about robberbarons ?? cant remember but basically tis true!

more needs to be done by the govt on this, there seems to be a blame culture in this country which says you deserve to suffer, folk dont deserve to pay for the rest of their lives because their job disappears due to ill health, the company collapeses in the credit crunch and so on - its all very well thinking why didnt they save, not everyone has enough salary in the first place to be able to save, its easy enough to do the maths, the poor generally remian poor while the rich get richer, thats the UK!


'rise like lions after slumber, in unvanquishable number, shake your chains to the earth like dew, which in sleep had fall'n on you, ye are many, they are few.' Percy Byshse Shelly 1819

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OFT's response

 

Credit Today online


PGH7447

 

 

Getting There Slowly

---------

 

Advice is given freely but is in no way meant to be taken as Gospel:-)

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2 threads merged (Theres also another one in Brighthouse forums)


Have a happy and prosperous 2013 by avoiiding Payday loans. If you are sent a private message directing you for advice or support with your issues to another website,this is your choice.Before you decide,consider the users here who have already offered help and support.

Advice offered by Martin3030 is not supported by any legal training or qualification.Members are advised to use the services of fully insured legal professionals when needed.

 

 

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To be fair to C4, one of the problems with programmes like this (I was involved in a Dispatches programme, and have provided technical advice for another, and for a couple of other factual programmes), is that a vast amount of information has to be squeezed into a short time, presented in a way that someone who knows nothing about the subject will understand, and be entertaining. A huge amount of footage will have been shot - and then edited. I think that overall last night's programme achieved its aim.

 

The only criticism I would make is that the part with the reporter using a megaphone took up too much time; the facts could have been presented in a more straightforward way.

 

The programme demonstrated how Brighthouse and the like prey upon people, and how the government has signally failed to regulate interest rates. Not bad for an hour including ad breaks.

 

I was featured in the programme (Nikki Halliwell) and i did 3 days of filming most of which they edited out. It was difficult to do but i think it got the point across.


:cool::cool: Blondmusic :cool::cool:

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