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23 February, 2015

Financial Conduct Authority asks financial providers to review approach to customer vulnerability

New research reveals that some vulnerable consumers seeking help from financial providers are meeting ‘a computer says no’ approach, putting them at risk of further detriment.

20 February, 2015

Community Charge Debt (Scotland) Bill receives final approval

Passing of Bill means that any liability to pay community charge arrears ended on February 1 2015, and surcharges, civil penalties and fees, and other financial outlays for community charge debt enforcement action also cease to be collectable.

16 February, 2015

Council tax debt now most common debt problem, says Citizens Advice

Today’s findings from report 'Consumer Challenges 2015', due out tomorrow, which highlights that since 2012/2013 a growing proportion of people have been seeking help with rent, council tax, water and fuel debts whilst the proportion of debt issues around credit cards, mortgages and unsecured personal loans has declined.

13 February, 2015

Early intervention needed to tackle repossession, says NI Social Development Minister

Commenting on a new report from the Housing Repossession Taskforce, Minister says: 'Managing a crisis when a household reaches the cliff edge of repossession is complicated, expensive and distressing, and is unfortunately all too common in Northern Ireland.'

13 February, 2015

Ministers refusing to use money from payday lender fines to fund charities offering debt advice

Politics.co.uk reports that 'thanks to a tweak of the law back in 2012, the Treasury ensured all fine income above enforcement costs are now fast-tracked into its current account at the Bank of England'.

11 February, 2015

Delayed energy bill cuts costs customers £47 million, says Citizens Advice

Citizens Advice Chief Executive Gillian Guy calls for the Competition and Market Authority to take a close look at how energy firms have cut prices this winter, and assess whether the industry is behaving competitively and offering people a good deal.

9 February, 2015

New Bankruptcy and Debt Advice (Scotland) regulations

New regulations provide for a minor technical amendment to make the drafting of article 4(1)(b) of the Bankruptcy and Debt Advice (Scotland) Act 2014 (Commencement No. 2, Savings and Transitionals) Order 2014 on debtor applications for sequestration consistent with article 4(1)(a) on creditor petitions, to avoid any doubt that a different effect was intended.

30 January, 2015

Community Charge Debt (Scotland) Bill passed by 96 votes to 14

Bill, which will end the collection of poll tax debts in Scotland, approved in principle but has two further stages of scrutiny before becoming law.

29 January, 2015

3.1 per cent decrease in debt relief orders in England and Wales during 2014

New statistics from the Insolvency Service also show that the number of bankruptcies in 2014 was 17.3 per cent lower than in 2013, but that the number of individual voluntary arrangements increased by 6.8 per cent over the same period.

28 January, 2015

Personal insolvencies in Scotland back to pre-recession levels

New Scottish insolvency statistics for the third quarter of 2014-2015 include that there were a total of 2,633 personal insolvencies, 12 per cent lower than the previous quarter and 21.3 per cent lower than the same quarter a year ago, continuing a long term decline since 2008-2009.

16 January, 2015

Insolvency Proceedings (Monetary Limits) (Amendment) Order 2015

New regulations that increase the maximum amount of debt to £20,000, and the maximum total value of property to £1,000, which a person may have in order to be eligible for a debt relief order.

16 January, 2015

Bankruptcy creditor petition level to be increased to £5,000 from £750

Insolvency service also announces that the Debt Relief Order limit will be raised to £20,000 and that the changes will take effect from October 2015.

13 January, 2015

Credit unions finding it impossible to compete with marketing budgets of payday lenders

Christopher Kay, chair of the North Wales Credit Union, while welcoming a one-off £650,000 Welsh government advertising campaign, said that the community-based lenders needed to build more awareness, and that payday lenders were able to spend millions on advertising while his credit union - the largest in Wales - could only spend £20,000.

9 January, 2015

Goverment’s evidence for the Low Pay Commission’s 2015 report on national minimum wage

Report provides evidence on issues relevant to the Low Pay Commission’s task of monitoring, evaluating and reviewing the national minimum wage and its impact and making recommendations.

8 January, 2015

Government publishes list of banks to provide basic fee-free accounts

Nine banks are Barclays; the Co-operative Bank; HSBC; Lloyds Banking Group (including Halifax and Bank of Scotland brands); National Australia Group (including Clydesdale and Yorkshire brands); Nationwide; RBS Group (including NatWest and Ulster Bank brands); Santander; and TSB.

6 January, 2015

Government publishes response to call for evidence on credit unions

Response sets out 'the next steps that the government will take to create an environment in which the credit union sector can prosper'.

5 January, 2015

2,000 people a day to seek advice about debt from a Citizens Advice Bureau

New estimate based on figures from January 2014 which saw a 27 per cent increase in the number of debt problems people came for help with, compared to December 2013.

23 December, 2014

Lloyds Fund awards £1m to credit unions

ABCUL reports on the first 17 awards from the Lloyds Banking Group Credit Union Development Fund.

19 December, 2014

Customer debts to energy suppliers rises to more than £900m

Annual report from Ofgem also shows that, in 2013, a total of 1.5 million customers were in debt on their electricity payments, and 1.4 million on gas payments – around one in every 17 customers, and a rise on 2012 - and, further, that 550 households had electricity cut off and 84 lost gas.