Derbyshire Financial Inclusion Conference

11-Jul-2008

On Friday 11^th July 2008 agencies from across the County attended a financial inclusion conference at the Derbyshire CC Council Chamber in Matlock entitled “The Debt Crunch – Life and Indebtedness in Derbyshire”

Household borrowing in Britain, including mortgages, is now at a record £1.4 trillion – the highest levels since records began – and is growing by £1million every five minutes. With insolvencies, bankruptcies and home repossessions also at all time highs, and on the increase, it is time to stop talking about the much publicised Credit Crunch, and start to look at the real and lasting impact of indebtedness on the lives of those people most vulnerable to the “Debt Crunch”

This conference sought to raise awareness of debt issues and financial exclusion across Derbyshire, and addressed the challenge faced by agencies working in local communities to assist those whose lives are increasingly affected by debt. With speakers from the Government’s Financial Inclusion Task Force, the Department for Work and Pensions, Leeds City Council (a Beacon status Local Authority for Financial Inclusion), the local advice sector and the affordable credit sector, the aim was to identify a way to address the issue within this region by establishing and developing strategic joint working and partnership opportunities.

The conference also saw the launch of “IVA’s – A Solution to Debt ?”, a report outlining recent research undertaken by Citizens Advice Bureaux within Derbyshire detailing their experience of individuals whose debt problems have actually been made worse following the advice they received from a range of debt management companies

The Conference was attended by over 100 people working at a strategic and operational level from a wide range of organisations including local authorities, housing associations, third sector lenders, key voluntary sector organisations and advice agencies from across the County

Richard Rippin, Project Manager of the East Midlands Money Advice Project, said “Debt problems can have a devastating effect on the lives of the most vulnerable individuals in society. It affects health, relationships, housing, overall confidence and well-being. It can also be a significant barrier for those seeking to move from benefit dependence into employment. This conference calls upon all those stakeholders involved to work together to find sustainable solutions to the burden experienced by those facing debt problems, and seek to develop partnerships that can have a lasting effect in terms of tackling financial exclusion within this region”