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Kudos to Micael Sheen - putting his money where his mouth is and also exposing some of the inequities in debt in the UK. Available on C4 catch up.

Due to the murky issue of reselling debt, Sheen discovers he can buy £1m’s worth of debt for a relatively paltry £100,000. Over two years, this documentary shows him working towards buying up the deband writing it off”.

https://www.theguardian.com/tv-and-radio/2025/mar/10/michael-sheens-secret-million-pound-giveaway-review-this-robin-hood-heist-is-a-total-inspiration

https://www.theguardian.com/lifeandstyle/2025/mar/10/michael-sheen-interview-secret-million-pound-giveaway-port-talbot

#UkPolitics #Wales #MichaelSheen #Debt
#Wales #ukpolitics #debt #MichaelSheen
JimmyB (he/him)
I'd never thought about this line of philanthropy but its definitely got legs. When someone stops paying a loan, it flags. After 90 days it's considered to be in default - and the value crashes (technically this is both because of the question of repayment/recovery and because the lender has to hold a lot more expensive capital to cover it).

In practice this means bad debt books get bought and sold all the time. So a 10p in the £ buy is very cheap. But what a great idea!
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