Jubilee Money Advice Service

in Oswestry Registered Charity Number 1140544

Authorised and Regulated by The Financial Conduct Authority.  Registration No. 618776

Jubilee Money Advice Service

in OswestryA member of

Community Money Advice

CHANCE

GO TO JAIL

GO DIRECTLY TO JAIL

DO NOT PASS “GO”

DO NOT COLLECT £200

Uncontrolled debt is just as imprisoning as being in jail.

In some ways debt’s worse than prison – at least in jail the authorities 

feed you and keep you warm.

In some ways debt’s worse than prison – at least in jail the authorities 

feed you and keep you warm.

In debt you still have to feed yourself and your dependents – there probably won’t be enough left over to keep you properly 

warm in winter.

If you have a poor credit rating then you will not be able to borrow money 

at reasonable rates.

If I can afford to pay £2236 in interest each year, how much could I borrow?

If I can afford to pay £2236 in interest each year, how much could I borrow?

1. Mr & Mrs Average-Householder

Mortgage debt £48,849Debts other than mortgage £6,130Total £54,979

National figures for July 2014, published in September2014 by ‘The Money Charity. http://themmoneycharity.org.uk

If I can afford to pay £2236 in interest each year, how much could I borrow?

1. Mr & Mrs Average-Householder

Mortgage debt £48,849Debts other than mortgage £6,130Total £54,979

Mr &  Mrs Average-Householder have a good credit rating and can borrow from the cheapest of banks

If I can afford to pay £2236 in interest each year, how much could I borrow?

1. Mr & Mrs Poor-Creditrating

Mortgage debt £0Debts other than mortgage £56Total £56

Mr &  Mrs Poor-Creditrating are not eligible for mainstream finance and have resorted to rolling over  short-term loans 

charged at 4000% interest APR.

Note; these figures might have overemphasised the amount that Mr & Mrs Poor-Creditrating are able to borrow because the £2245 does not include new arrangement fees every couple of months.

Average Householder

Poor Credit Rating0

10000

20000

30000

40000

50000

60000

The effect of your credit rating on the

amount you can bor-row for a yearly in-

terest payment of

£56

£54,979

£2236

£

Depression

The bedroom tax.(aka the spare room subsidy)

If you have more bedrooms than the rules deem you to be eligible for, then you are expected to either move to housing with the correct number of rooms or pay the extra amount from your disposable income.

Unfortunately no one seemed to notice that there was no great surplus of housing with one or two bedrooms. Therefore few people have been able to down-size and the majority are having to pay considerably more for their accommodation than hitherto.

Shared accommodation 69.231 Bedroom 86.542 Bedrooms 109.623 Bedrooms 126.924 Bedrooms 167.31

Weekly Rent £

Housing benefit caps in Shropshire

Substance abuse can 

be both a cause of 

debt and a response 

to being in debt

jobcentreplus

How do we go about advising 

clients?

It’s not just a cosy chat

What’s ahead is hard work

What’s ahead is hard work

Both for client and advisor

How hard  depends on how early they have 

come to us. 

The earlier they come, the less painful the 

treatment

A contract is signed that guarantees;

• Absolute confidentiality• That the client will honestly disclose all 

income and liabilities. 

No matter how serious the debt problem, stage 1 is the preparation of a common financial 

statement.

Weekly                  Monthly

Essential living expenses

Servicing the debts

Essential living expenses are determined 

nationally by a set of confidential trigger 

figures.

What remains is available to service debts

Debts are divided into priority and non-priority . 

 Priority debts are those debts where non-payment can result in the loss of:

• liberty• home• essential services• essential goods on hire purchase.

 All non-priority creditors have to be treated identically.

Once all details have been calculated our advisors 

approach all legal creditors to set out a repayment schedule based upon the clients ability to pay.

For many people following a debt relief plan is like an alcoholic going ‘cold turkey’

As long as clients are willing to go on trying, JMAS will be there for them as long as it takes – 

sometimes for years 

Jubilee Money Advice Service is staffed

completely by volunteers but it still costs about

£7000 a year to offer our services to the

community.  Registered Charity Number 1140544

Authorised and Regulated by The Financial Conduct Authority.  Registration No. 618776

If you can understand the impact that debt has

How about using your experienceto help others?

If you can understand the impact that debt has

volunteers to trainas advisors

We need more

to help others?How about using your experience