Our CEO Muna Yassin took part in an informative discussion on Economic Abuse at the Registry Trust Ltd AGM, with Genevieve Richardson from Step Change Debt Charity and Lauren Garrett from Surviving Economic Abuse (SEA).
When debts created through economic abuse end up in the court system, victim-survivors are thwarted from rebuilding their lives. Judgments stay on their credit file for 6-years, impacting their ability to regain financial control and freedom. Life is more complicated with credit out of reach. Even taking out a telephone contract can be difficult. It’s traumatic and ultimately unfair.
Discussion also covered:
- The progress made by financial services and why the public sector should learn from these lessons
- A shift in focus to perpetrators – financial products are used to continue control over victim-survivors. There are levers that can be applied to stop this.
- Why male allies are important – it shouldn’t just be women carrying the burden for change
- That not all economic abuse is in intimate relationships – familial, inter-generational and cultural nuances exist too.
The Registry Trust Ltd is the Official Register of Court-Ordered Monetary Judgments and Fines for the UK & Ireland. Find out more here