Miss B, a young single parent, had gone to a cheque cashing shop for credit. She had given them a personal cheque for £500, in return for £500 cash but had to pay a monthly fee of £60 to prevent them presenting the cheque.

As she did not have the £500 in her bank account she was in effect committed to paying 12% a month until she could repay the whole £500.

MCF was able to lend her the money to recover the cheque. The £500 loan will cost her just under £580 over 18 months. Had she not taken this loan she would have paid £1080 to the cheque cashing shop over this period and still had the debt at the end?

Miss B also had several CCJ'S with Severn Trent Water. Miss B stated this is not a priority bill and she struggles to make the payments since her partner and she separated due to domestic violence reasons.

I went through the Severn Trent water trust fund checklist and felt Miss B met the criteria to apply. I contacted Release and booked Miss B an appointment to go through the trust fund application to get her water debt cleared. Release can also help Miss B with other financial issues.
 

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