In Focus Collections
was the subject of one of 13 “urgent recommendations” made by a group of independent Challenge Group Chairs advising the Money and Pensions Service on the UK financial wellbeing strategy. This form will allow debt advisors to
evidence victims' experiences of coerced debt, a disturbingly prevalent form of economic abuse.
Research Our Economic Justice Project research found that 60% of domestic abuse victims had been forced into debt, owed an average £4,600 and were commonly in touch with five or more creditors, with 44% of those debts being priority debts. In total, victims face £23.5m of coerced
debt each year, typically have a ruined credit score and may be at risk of losing their home and falling into poverty. We will be piloting the use of the EAEF and are very pleased to announce that Lloyds Banking Group has joined the pilot project.
Coerced debt Coerced debt, as is common with other forms of economic abuse, often continues even after a victim has left the abuser. However, the 2015 criminal offence
of controlling or coercive behaviour, in which in six out of ten cases will include economic abuse, does not protect victims post-separation. SEA is working to secure an amendment
to the Domestic Abuse Bill to extend the 2015 legislation to ensure these individuals have the protection and the support they need and deserve. We know there is far more to do, and we
know that Covid will continue to provide very real challenges. But we also know there has been a sea
change. And as we brace ourselves for whatever
2021 may bring, we do so with the knowledge the financial sector can and will take positive action that not only changes lives but can also save lives. CCR
Our Economic Justice Project research found that 60% of domestic abuse victims had been forced into debt, owed an average £4,600 and were commonly in touch with five or more creditors, with 44% of those debts being priority debts. In total, victims face £23.5m of coerced debt each year, typically have a ruined credit score and may be at risk of losing their home and falling into poverty. We will be piloting the use of the EAEF and are very pleased to announce that Lloyds Banking Group has joined the pilot project
January 2021
www.CCRMagazine.com
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