Financial help for Grenfell Tower residents

Tony

What Consumer Founder
Apr 7, 2008
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BBC Mpneybox
More information on the stories featured in this week's edition of Money Box can be found in the related links section below.What financial help is available for the Grenfell Tower residents who survived the fire which destroyed their homes in the early hours of Wednesday morning? It's thought many of them didn't have contents insurance. Jolyon Maugham QC is among a group of lawyers offering free help to Grenfell residents and those who are raising funds to help them.In its annual review, the Financial Ombudsman Service noted a rise in the number of guarantor loan complaints. It's an unsecured form of high-cost credit which involves a second person, who is known to the borrower, agreeing to step in should a default occur. The Ombudsman says it's hearing more from guarantors who are being pursued by lenders to repay someone else's debt. Caroline Wayman, Chief Financial Ombudsman and Mike O'Connor, Chief Executive of StepChange debt charity discuss.One of the country's biggest teaching agencies has stopped using umbrella companies, which act as a third party between a contractor and an employee. It's advising workers to move back to PAYE instead. What behind the move and what are the wider implications for umbrella companies.
Financial help for Grenfell Tower residentsExternal link to BBC