January is a month of cold weather, dark mornings, and possible failure in our New Year resolutions, which combine to create a perfect recipe for ‘January Blues’. To understand the cause of such blues, Debt Talk host Ripon Ray invited three guests from the mental and debt, financial inclusion, and open banking sectors.

Charlene Marks, Head of Mental & Debt Advice at Mental Health UK, confessed that there is a genuine reason for feeling gloomy this month: our finances have taken a beating during the festive period and the New Year. She explained that there is a commercial reason for calling it and it is linked with travel agents utilising the period to encourage the sale of travel abroad. There are vulnerable communities seeking advice from her organisation, and many alike are impacted by severe mental health, depression, bipolar disorder and other mental health issues and debt are intertwined, as she explained eloquently.

Gareth Evans, founder of Cash Perks, sees this period as a new period of opportunity. He developed a product that helps transfer funds to anyone in the UK via SMS message and allows cash instantly without needing a card or bank account if they are financially struggling. But the question for him is where to look when you need support. Local councils are a great point of start with since his product assists many councils in transferring funds to struggling communities, either if they are suffering from January Blues or otherwise.

Tope Akande, co-founder of Bucks Trybe, a product designed for immigrants in the UK, emphasised that marginalised communities and young British adults are excluded from mainstream lending. He states that building their credit record by addressing non-conventional transactions—such as the Bank of 'Mums and Dads'—with open banking would assist communities with a better future in the financial market and access to credit.

Debt Talk panel members have also provided TOP TIPS listeners to think of strategies to ease the pressure of January Blues.

My next podcast is on: 'Credit ratings whilst indebted’.

As we head towards this winter and people begin to prepare to celebrate Christmas festive period, lenders start to lend more than in other periods of time and customers borrow more; many no doubt will also suffer in silence due to the changes in winter fuel payment introduced by the current government. The subject for this month on the Debt Talk podcast is: 'Christmas festive worries'. To navigate the subject with Ripon Ray, there are two distinguished guests: Michael Agmoh-Davison, who is one of the organizers for the Unite the Trade Union, and Alison Berry, the debt coach lead for Christian Against Poverty.

Michael Agmoh-Davison explained the current state of poverty in his community in Northern England and as a trade union representative for Unite the Union. He also described why his union decided to challenge the current government's decision not to assess the impact the change would have on pensioners and communities with disabilities in court. He also shared the importance of campaign work, which is needed beyond judicial review to protect the interests of communities in financial hardship.

Alison Berry challenged the myth that most clients that Christian Against Poverty supports are about overspending but are actually about borrowing to mitigate their deficit budget, either keep their roof over their heads or keeping their home warm. This winter will be even more challenging for pensioners since it is the first winter, and many will need winter fuel payments.

My panel members also provided Debt Talk listeners with TOP TIPS to assist communities who may struggle this winter and need advice and support when budgets are challenging.

The next Debt Talk podcast is on ‘January Blues’. If you want to speak about a topic of your choice related to the theme of the podcast, you can get in touch with Ripon Ray here: ripon.ray@yourdoctordebt.com

Globally, Britain has a two-tier system: a thriving financial services sector on the one hand but millions of people who cannot access essential financial services on the other. Would the current Labour government make any difference to the millions of struggling residents excluded from the financial services market to help reduce such an exclusion? To navigate on the Debt Talk podcast on this month’s subject: ‘Financial Exclusion & lending’, with Ripon Ray, there are two panel members to share their experience and knowledge:

Fran Boait, Co-Executive Director of Positive Money, outlined the severity of financial exclusion due to branch closures, which not only impact low-income households but also marginalised communities, those who live in remote rural places, and small businesses. A fairer method needs to be developed within the context of digital currency, and alternative lending needs to be emphasised for the benefit of the wider public.

Shirina Ali, Manager of Limehouse Project in London, gave practical examples of how marginalised communities—such as Bangladeshi and Somalian—were impacted by branch closures by many banks in the UK. Many of her community members who are financially struggling do not trust mainstream lenders. They rely on word of mouth from their community members instead. She emphasised the importance of building trust with the local community and financial institutions. Therefore, how these institutions communicate with these community members must be clearer while encouraging financial education.

They also provided Debt Talk listeners with TOP TIPS for those considering developing policies impacting excluded communities.

The next podcast is on: ‘Hidden Worries during Christmas.’

As the winter unfolds, there is going to be an inevitable increase in fuel bills due to the high usage of gas and electricity especially for those who are on prepayment meter. During this time, the fuel cost is also to go up and access to fuel support is to be removed for pensioners who are not on pension credit by the current government. In this month’s Debt Talk podcast, Ripon Ray spoke about: 'Pensioners & winter fuel payment'. To navigate the subject, two panellists took part on the podcast to raise awareness of the impact of removal of Winter Fuel Allowance.

Ian Samuel, a pensioner, and a Labour Party member shared his personal experience of not getting the support in this winter and his fear that many other pensioners, who already struggled with existing system, are to find themselves in further financial hardship. As a former social worker, he heard first-hand how low income pensioners struggled with prepayment meters whilst on pension credit. Recently he had a health scare which made him feel the vulnerability of being a single man living on his own. He wrote to his Member of Parliament and passionately campaigned against the removal of Winter Fuel Allowance. He explained how several councils have set up local hubs to encourage the uptake of pension credit.

Matthew Cole, Head of the Fuel Bank Foundation recognised the need for the government to manage public finances. However, he was not convinced whether this was the right way to go about do it. He explained that the measure was implemented without exploring the impact it would have on low income pensioners who would miss out by just a £1 over the threshold. He emphasised that the government could have explored the tapering system as is the case with universal credit, a means tested benefit for working age population. Regardless of the stigma attached, he emphasised the importance of claiming pension credit because it would give access to other financial support, such as council reduction and housing benefit from local councils.

Both panel members also provided TOP TIPS to Debt Talk Listeners to address the challenges faced by pensioners for this winter.

My Debt Talk podcast is on: ‘Financial exclusion & lending’.

One of the important changes in the last decade is the rise in the consumption of products and services on Buy Now Pay Later, as many low-income households are using these products to buy household items.

In this month’s Debt Talk podcast, Ripon Ray discusses ‘Indebted with Buy Now Pay products’. To address this pressing subject, Sean Breen from the Consumer Council for Northern Ireland and Gulsah T from Bromley Citizens Advice highlight some of the issues faced by communities struggling with buy-now-pay-later products and services.

Sean Breen, Director of Financial and Postal Service from the Consumer Council for Northern Ireland, explains that, based on their research, most consumers are from low-income households. They are already struggling with their finances and must be made aware of the consequences of non-payment, such as not being covered by the Financial Ombudsman Compensation Scheme. Many of them are also prone to being attracted to illegal money lenders.

Gulsah T, Head of Advice Services, at Bromley Citizens Advice, highlights the changes in the types of clients they see. Where among many debts, they have seen an increase in young people purchasing buy now pay later and how education is crucial in highlighting the cost of default in payment of buy now pay later can be to the individual credit rating and a claim in court since the Financial Conduct Authority does not regulate them.

The next podcast is on ‘Pensioners & winter fuel payment’.

Thousands of unpaid carers have been fined due to falling foul of earnings rules in the UK. Some of them also faced prosecution. The Department of Work and Pension (DWP) is recovering the overpayment of carers’ allowance from their existing benefit or salaries. On this month’s Debt Talk podcast, Ripon Ray explored: ‘Carers & benefit overpayment’ with distinguished guests from a funder and civil society organisations.

Rory Ewan, Senior Analyst from Policy in Practice, spoke about financial and non-financial challenges carers face in the UK. He explained the nature of carers’ role and how they have fallen foul of the criteria for carers allowance. He also describes how income received under carers allowance is different from universal credit. Universal credit has a taper system where carers lose the whole of their allowance if they earn a pound above the legal threshold. The DWP then use drastic enforcement action to recover the debt which leaves carers in further poverty and with some faced with criminal prosecution.

Abby Jitendra, Senior Policy Adviser from the Joseph Rowntree Foundation (JRF) explained the UK's carers' state. They are mostly women, low-paid and deemed to fall within the vulnerability category. JRF carried out several research into the causes of poverty and carers and they are financially penalised for caring and also marginalised from the labour market leaving them with insecurity. Abby also highlighted the importance of changes in the benefits system to support carers in the long term.

Both panel members provided Debt Talk listeners with TOP TIPS to consider policy change to improve the lives of carers in the UK. My next podcast is on: 'Indebted with By Now Pay Later products.’

Labour's landslide victory in the General Election raises questions about what the policy development will be for leaseholders' benefit in the United Kingdom. In this month’s Debt Talk podcast with Ripon Ray, three distinguished individuals share their knowledge on another important subject, ‘Leasehold & charges’.

Suz Muna from the Social Housing Action Campaign says that renting and leasehold are two sides of the same coin where leaseholders are very much trapped in an exploitative situation from developers, freeholders, and management companies. Many of the leaseholders are living in unsalable homes whilst service charges are rocketing up. She argues for the abolition of leaseholds.

Nicolas Kissen, senior adviser and a solicitor at the Leasehold Advisory Service, explained the rights leaseholders may have against stakeholders when there are high charges, bad behaviour and cladding in properties.

Matthew Connell, Director of Policy and Public Affairs for the Personal Finance Society emphasised exploring different insurance and service products for leaseholders and explaining free money advice when leaseholders need support.

They also provided TOP TIPS to the new Labour government to make policy changes to improve the conditions for leaseholders who are struggling with service charges.

The next podcast on Debt Talk is on: 'Carers & benefit Overpayment'. If you want to get involved, get in touch with Ripon Ray - ripon.ray@yourdoctordebt.com

Thames Water considered a rise of 40% whilst its parent company is on the verge of liquidation. Southern Water requested Ofwat last October to increase its bill to consumers by 66% on top of the rise in inflation. In this month's Debt Talk podcast, Ripon Ray explored 'UK waters & our bills’.

Eugenio Vaccari - Senior Lecturer from Royal Holloway, London, who researches sustainable restructuring procedures, explored the legal framework in which Thames Water and its parent company work and the potential challenges faced from the perspective of shareholders, government and sustainability of the water companies for the public interest.

Andrew White - Senior leader for Social Policy of the Council for Consumer Water which represents the interest of consumers in the water sector explained the the impact of the rise in cost for vulnerable communities and explained that there is a genuine need to have a social tariff to support struggling consumers. He also explained how important it is to collaborate to raise awareness of the cost of water while there are families with deficit budgets.

My panel members have also provided TOPS TIPS to listeners to drive changes as the general election looks in the UK.

My next podcast is on: ‘Leasehold & Charges.’