The pros and cons when it comes to payment holidays
HERE’S THE PICK OF THE KIT YOU NEED TO BE ABLE TO MAKE YOUR OWN SHOWS
As we approach a year of lockdown and life-changing measures to combat Covid, more people than ever are contacting me to ask about how to sort out their debts.
With new measures in the budget to help many people through the next few months, there’s never been a better time to tackle debt.
Yet research from Resolver reveals many people were confused by the options available – and by ‘payment holidays’ in particular.
What is a payment holiday?
To help people face the financial challenges posed by the pandemic, the regulator for all things moneyrelated, the Financial Conduct Authority (FCA) – introduced clear rules for lenders so they could offer people ‘holidays’ from mortgage, loan, car finance, credit and other financial debts.
This means you can potentially get a
‘holiday’ from your financial obligations for a total of six months – though this is only available in three-month chunks.
While this temporary relief from financial commitments has been broadly welcomed, over a third of the people Resolver surveyed did not realise that financial businesses were allowed to charge interest on the outstanding balances or when this would be payable.
Furthermore, a third of people who’d taken a payment holiday did not realise this either. This matters because, if you take a payment holiday, you may have to pay more money over a longer period.
How many people are affected?
The survey also revealed that many had struggled in the last year.
A fifth of people had been forced to use their overdraft facility in 2020 – with half of those straying over £500 and finding that they’re being charged high overdraft interest as a result. More than a third of people told us they were worried about repaying their debts.
Worryingly, large numbers of people have told me that when the payment holiday finished, the lenders were less than helpful about the options available.
How can I tackle my debts?
Don’t be disheartened. There are lots of things you can do for free to tackle your debts. I’d suggest:
■ Set aside a morning or afternoon: Sometimes the process of dealing with debt can make you feel better about what you owe. Take your time and have a few breaks while you do it, though.
■ Do a mini budget: Work out what money you’ve got coming in and what your outgoings are. Go through your bank, credit card and mobile phone statements and cancel anything you don’t need. If you haven’t authorised payments you can seek a refund too.
■ Contact businesses ‘off-peak’:
Lots of people tell me they’re waiting a while to get help on the phone. There’s no way around this one, I’m afraid. But try to call mid-morning, mid-afternoon or early evening if the helpline is open later.
■ Have your details handy: Explain to the business your current cashflow and work situation. Ask them to provide solutions tailored to your situation and confirm in writing what they are. If they don’t help, tell them you’ll be going to the (free) Financial Ombudsman.
What if I’m in difficulties?
If you’re really struggling to get help or are finding it all a bit much, free debt charity Stepchange can help you with your creditors. Never pay a debt management service, no matter what they promise you.
There are a number of Government rules in place to prevent businesses taking action against you in terms of legal action and debt recovery, depending on the type of lending you have and which country in the UK you live in.
There are also separate rules relating to rent and people in arrears. Needless to say, if you are in arrears with your rent, it’s vital that you seek help without delay.
Check out the gov.uk website (type in ‘help with rent’ to get the Government guidance in full).
■ Resolver can help you with any complaint you have about money and debt. Go to resolver.co.uk
HAVE you got something to say? I mean, something you really want to share? Podcasts allow just about anyone to get their voice heard, and it’s never been easier to get into recording your own.
These ‘radio-on-demand’ shows require little gear to get started, and a relatively small outlay can up the quality dramatically.
So here’s our guide to creating your first show… all you need to do is find the words.
FOR YOUR RECORDING NEEDS
By far the simplest way to get going is to use a service called Anchor, below, which is made by Spotify.
Anchor (anchor. fm) is free, and it offers a complete end-to-end solution for podcasting. One of its biggest draws is its ability to record audio with other people over the internet at reasonable quality.
Up to five people can chat via apps on IOS or Android, or via a browser version of the Anchor app on any computer.
On mobile Anchor records using your device’s mic, so the quality is not what you might call professional. But it’s certainly passable enough for starting out.
If you want better quality audio, you’re going to need to buy some kit – any computer plus a combo of headphones and mic from Audio-technica (audiotechnica.com/en-gb) would be a great place to start.
The ATR2100X-USB mic, right, (£79.99) offers great quality and plug-and-play simplicity and you don’t need an audio interface as it’s got a USB connection to your computer built-in.
The ATH-M30X headphones, right, (£59.99) also offer great quality.
The last piece in the recording jigsaw is software, and there are two ways to go on that front – desktop, or online. I would recommend Adobe’s Audition (adobe.com/uk, at £19.97-a-month) for desktop recording. It’s got some built-in templates, but is probably not the way to go if you want to record with more people than just yourself.
For that you might want to go with an online service like Iris (iris.fm), which allows remote recording of up to nine people and is free for an hour’s worth. The quality is a lot better than you get with Anchor.
FOR YOUR EDITING NEEDS
Anchor has built-in editing tools, although they are limited. You can trim audio, but at the moment there is no multitracking, so if you’ve recorded with others, you’re stuck with the single-track processed file Anchor provides. Again, it’s good enough for the starter, especially when you combine it with the music and effects Anchor also provides. For more flexibility you’ll need to go with Audition for total control over all tracks.
An online option would be Alitu (priced £20 a month), which offers some simple yet very powerful online tools for stitching the audio you have recorded together.
Better than that, though, are the many video tutorials Alitu offers on how to start your podcast, and get better at it. Also included is some quite sophisticated audio processing that can help make you sound a lot better than you should.
GETTING YOUR PODCAST OUT THERE
If you use Anchor, your podcast will automatically be shared to its own network for other Anchor listeners to enjoy… but you can also opt in to its automatic distribution system. As long as your podcast abides by the rules services like Apple Podcasts and Google Podcasts have, your show will appear in their apps for all to find.
If you’ve opted for Audition or Alitu, you’ll need to find an online home for your podcast, and Captivate is one of the best. For £17-a-month your show is hosted with shareable links, and distribution to all the other podcast apps.
If you want better quality audio, you’re going to need to buy some kit
EVER WONDERED WHAT HAPPENS TO ALL THAT RUBBISH YOU CAREFULLY SEPARATE AT HOME?
SHOCKING news for those of us who painstakingly separate our rubbish – a lot of it isn’t even being recycled.
So despite battling the constant ‘which bin?’ problem, and remaining baffled by more than 50 different recycling symbols on products, is it even doing any good?
In this Dispatches film, environmental journalist and campaigner Lucy Seigle investigates the rise of waste incineration in the UK, examining how millions of tonnes of waste that we leave out for recycling actually ends up being burned.
She says: “I’ve watched the phe
Channel 4, 8pm
nomenal rise in waste incineration across the UK. Up until the mid-90s we sent 90% of our waste to landfill.
“It was a cheap and easy way to dispose of our rubbish. But its impact on the environment was catastrophic.”
The solution was to burn it. But burning waste creates more carbon emissions than you think and could be holding back our recycling rates.
Burning is the cheapest and easiest solution at the moment, but exclusive research in this film reveals that incineration is on course to become the UK’S dirtiest form of energy production.
There are currently 48 incinerators in the UK, with another 18 on the way.
The programme also looks at how councils are locked into expensive multi-million pound contracts with incinerator operators, forcing them to burn waste for decades to come. “So they’re trapped?” asks Lucy.
Meanwhile, a spotlight on other countries reveals how the UK is falling behind.
Says Lucy: “There are major concerns.”