Jump to content


Sheffield Money... Well I Never?!


Please note that this topic has not had any new posts for the last 2009 days.

If you are trying to post a different story then you should start your own new thread. Posting on this thread is likely to mean that you won't get the help and advice that you need.

If you are trying to post information which is relevant to the story in this thread then please flag it up to the site team and they will allow you to post.

Thank you

Recommended Posts

Right Interesting one...

 

 

The city of Sheffield will, on Monday, launch a range of loans for hard-up residents in a fightback against high-interest deals from Provident Financial, Brighthouse and Wonga. The move, it claims, will save its poorest residents £20m in one year alone.

 

The new financial services brand, called Sheffield Money, is supported by the city council and regulated by the Financial Conduct Authority.

 

It promises loans from its website in as little as 15 minutes, a city centre money “shop” so people can call in to obtain loans, and a phone application service for those unable to visit in person.

 

I like the idea of this! Could be interesting! :)

 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

Link to post
Share on other sites

To end these legalised loan sharks is simple

 

Put an cap on the maximum interest that can be charged to 50% APR

 

 

But when you have companies such as Wonga etc making hefty political donations and lobbyists, that will never change

 

Our politicians need to start wearing badges saying WONGA, BetFred etc

Link to post
Share on other sites

Representative APR 12.67%. APRs range from 12.67% - 89.9% subject to status.

https://sheffieldmoney.co.uk

 

The current account looks interesting... Charges from 75p too withdraw cash....

 

On the face of it I thought goods idea, reading the small print its another way to target the less well off in society. Read the loans, bank, investment pages.

 

I cannot believe my local council is in cahoots with this.

 

Use a credit union... Please...

Link to post
Share on other sites

Oh come om, its better than what to expect from the Sub Prime lenders... I think its quite commendable what they are doing :)

 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

Link to post
Share on other sites

It is certainly better than the legalised loan sharks such as Wonga etc and if it prevents people becoming tangled with the likes of Brighthouse, then that has to be good news.

 

If I am reading this properly they are going to be able to give people decisions within 15 minutes, sadly something that Credit Unions are unable to do at the moment.

 

It seems to be somewhere in the middle which gives those with poor credit histories a fighting chance of getting back on their feet again.

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy - HERE

2: Take back control of your finances - Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

5: Forum rules - These have been updated - Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

Link to post
Share on other sites

Naturally... It's all theory at this point. Although ffrees for banking? Nah...

 

They should sign up with a bank on proper basis... Ffrees is crap...

 

But they are doing something good!

 

We could do with some help from you.

 

Have we helped you ...?         Please Donate button to the Consumer Action Group

 

**Fko-Filee**

Receptaculum Ignis

 

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...