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Forcing people that are struggling to live day-to-day to use bank accounts just makes life worse for them. The first thing that happens when they're in debt is
by GraemeL 8y ago
Forcing people that are struggling to live day-to-day to use bank accounts just makes life worse for them.
The first thing that happens when they're in debt is that their bank account gets frozen to pay the debts leaving them with nothing.
Forcing all transactions to be electronic takes away the margins they live in. It's no longer possible for them to pay 1/2 their rent with a promise to pay the rest in a couple of days when they get paid so that they can feed their children during that period. The rent comes out of their account on time and their children go hungry until payday.
- IanCal 8y agoThis depends on the laws. In the UK there are requirements lenders and collectors must follow. You can get an agreement for a low repayment based on your required spending. > It's no longer possible for them to pay 1/2 their rent with a promise to pay the rest in a couple of days when they get paid so that they can feed their children during that period. Why not? You can transfer money whenever you want.