Welsh actor branded ‘hero’ after paying off £1,000,000 debt for 900 strangers with his own money

Michael Sheen has been branded a ‘hero’ for clearing 900 people’s debts in south Wales (Picture: Tristan Fewings/BAFTA/Getty Images for BAFTA) Michael Sheen has been branded a ‘class act’ for paying £1million of debt for 900 people using £100,000 of his own money. The Welsh actor, 56, paid the six-figure sum out of his own pocket to start up a debt acquisition company to help people struggling with their finances in south Wales. The Twilight actor’s venture will be the subject of a new Channel 4 documentary, Michael Sheen’s Secret Million Pound Giveaway, which will air next week. Overall, Michael has helped 900 people in the Port Talbot area of south Wales by buying £1mill worth of strangers’ debt for £100,000. ‘I’ve always wanted to do something big to expose the unfairness of the system,’ the Good Omens actor said in the teaser of the documentary. ‘I want to see if I can help people going through a tough time, and at the same time I want to do something that gets people’s attention.’ The Welsh actor has well and truly put his money where his mouth is – £100,000 of it (Picture: Mike Marsland/WireImage) On social media Michael has been hailed a ‘class act’ for his generosity. ‘Really moved by this man who works tirelessly to help people and to spread kindness and awareness, using his platform for so much good. He’s a real inspiration,’ wrote X user @SuzyQ4271. ‘He’s too good for this world. His kindness, his empathy, his sense of justice, his desire to fix things, certainly seem like things from another world,’ said @miss_romy88. ‘What a bloody hero,’ began @RabbleChorus, adding: ‘Be nice to see all the UKs multi-millionaires & billionaires stepping up now.’ ‘Bloody amazing man who literally puts his money where his mouth is,’ added @RosyDarling66. Explaining the premise of the documentary on The One Show yesterday, Michael said: ‘£100,000 to buy 1million worth of debt seemed like a good deal to me. I didn’t have £100,000 to throw around. So I wanted it to be effective. ‘But when I realised I could do this, get £1million worth of people’s debt and just write it off, it seemed like a good thing to do.’ Clarifying how this exchange works, Michael said: ‘People’s debt gets put into bundles. Then debt-buying companies can buy those bundles, and they can sell it on to another debt-buying company at a lower price. So even though the amount of people who owe is still the same, the people who own the debt, can sell it for less and less money. He discussed the move on The One Show this week, with his documentary airing on Monday evening(Picture: BBC) ‘So I was able to set up a company and for £100,000 of my own money buy £1mill worth of debt, because it had come down in value, because they don’t think there’s as much chance to get the money back. I had no idea this happened.’ When Michael started out trying to set up his debt acquisition company, he said he didn’t know it would be as difficult as it turned out. He thought he would be working on it for a few weeks or a month, but the whole process to get a licence took two years because they had to do it ‘secretly’ for the documentary. While Michael doesn’t know the identity of the people he helped, he knows the area they live in, and the broad type of debt he was helping clear. How much debt is the average UK household in? According to personal finance website NumbleFins – and their analysis of data from the Bank of England and ONS – the average UK household consumer debt excluding mortgages is around £17,076 – an increase of 82% over ten years. Michael’s faith wavered in these two years, as his circumstances ‘changed’ – and he admitted to not being sure he could go through with his grand plan after all. But one day Michael and his team were filming in Port Talbot down by the docks, when he heard a story that moved him to carry on. ‘It was the day the last shipment came in for the steelworks at Port Talbot, and the woman who worked in a cafe told me the story of men who were losing their jobs sitting in tears,’ Michael recalled. ‘Then it really hit home,’ he said. The debt Michael bought included credit card debt, car finance, and overdrafts, though he doesn’t know the specifics. ‘People are going through unexpected events like an illness or a washing machine breaks down or a car. Or even just Christmas. You need some help to get through these times. ‘People are getting into spirals of debt, and once you get underwater it’s very hard to get out again.’ Michael Sheen’s Secret Million Pound Giveaway will air on Channel 4 on Monday March 10 at 9pm. The One Show airs weekdays at 7pm on BBC One. Got a story? If you’ve got a celebrity story, video or pictures get in touch with the Metro.co.uk entertainment team by emailing us [email protected], calling 020 3615 2145 or by visiting our Submit Stuff page – we’d love to hear from you.