Debt news and case law

23 February, 2021

Financial Conduct Authority issues finalised guidance for firms on the fair treatment of vulnerable customers

Key aim of guidance is to ensure vulnerable consumers are treated fairly and achieve outcomes as good as any other consumer

11 February, 2021 Open access

Financial Conduct Authority finds Covid-19 pandemic has left more than a quarter of UK adults with low financial resilience

Latest survey of consumers shows number of people with erratic earnings, over-indebtedness or low savings has increased by 3.5m over course of 2020

8 February, 2021

Majority of UK’s 2 million single parents are being forced into debt to meet basic living and childcare costs

New Gingerbread and StepChange report calls for government to protect low-income families from further debt and poverty by maintaining £20 benefit ‘uplift’ and reforming its childcare offering

4 February, 2021

Civil Procedure Rules amended in relation to the ‘breathing space’ scheme being introduced from May 2021

New statutory instrument enables provision to be made in new Practice Direction 70B

2 February, 2021 Open access

Government announces intention to bring unregulated Buy Now Pay Later loans into Financial Conduct Authority regulation

Economic Secretary agrees with key recommendation from FCA-commissioned report on the unsecured credit market

2 February, 2021 Open access

Lowest paid most likely to have lost income and increased debt since start of Covid-19 pandemic

New TUC survey finds that half of workers with income of less than £15,000 experienced fall in income, while three-in-ten reported increased debt

27 January, 2021

Regulatory reform needed to deal with misleading practices in promoting debt solutions, says StepChange

People seeking help need advice, not a 'hard sell' by companies working on behalf of 'commercial IVA factories'

15 January, 2021 Open access

Government must immediately ban all bailiff doorstep visits to prevent serious risks to public health

Money Advice Trust and other debt charities highlight that, as pandemic enters its most dangerous phase, the current suspension of bailiff enforcement of rental evictions should be extended to include suspension of all bailiff visits for debt enforcement

14 January, 2021 Open access

Public and Commercial Services Union calls for HMCTS to immediately suspend all bailiff enforcement activity during current lockdown

Union responds to increasing concerns from its HMCTS bailiff members that they fear for their safety in the current lockdown

13 January, 2021

Increasing student loan repayment earnings threshold to £25,000 in Scotland

New statutory instrument

12 January, 2021

Insolvency Service launches consultation on debt relief order eligibility criteria

Views invited on proposal to increase existing monetary limits including the total allowable debts that can be included

11 January, 2021

High Court declares that enforcement agent may enter into controlled goods agreement with debtor whether or not they have physically entered premises where goods are located

Just Digital Marketplace Ltd (enforcement - controlled goods agreements - taking control of goods) [2021] EWHC 15 (QB)

4 January, 2021 Open access

Households ‘teetering on the brink of financial ruin’ as coronavirus support cliff edges loom, says Shadow Chancellor

Labour Party urges Chancellor to fix Britain's broken safety net and tackle the root causes of income insecurity

22 December, 2020

Court of Session exercises discretion in favour of debtor, so that creditor is prevented from claiming PPI compensation awarded subsequent to ‘final distribution’ of assets

Royal Bank of Scotland PLC v Donnelly and Another [2019] CSOH 106

17 December, 2020 Open access

Debt clients are more likely to have rent or council tax arrears, receive universal credit, or be out of work since COVID-19 crisis began

Survey of StepChange clients also finds that almost half its clients report material deprivation, such as going without meals or rationing basic utilities

11 December, 2020 Open access

More than seven million people estimated to have fallen behind with essential bills during coronavirus pandemic

Citizens Advice calls for targeted help for people who’ve built up debts during the pandemic, focusing on helping clear council tax and rent arrears

8 December, 2020 Open access

Almost four in ten self-employed people expect it to take more than a year for their business income to return to pre-COVID-19 level

In light of survey findings, Money Advice Trust calls on government to introduce 'Self-Employment Recovery Strategy', to include grant scheme for those excluded from SEISS and reform of universal credit minimum income floor

30 November, 2020

High Court rules that a third-party loan to a debtor, paid direct to petitioner to clear bankruptcy debt, is not a void disposition under section 284 of the Insolvency Act 1986

Hood v JD Classics Ltd (In Administration) [2020] EWHC 3232 (Ch)

25 November, 2020 Open access

StepChange confirms that applications for Covid Payment Plan are now open

New plan enables people whose income has been temporarily affected by coronavirus to make reduced payments on borrowing for up to a year

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