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2 May, 2014

New Act of Sederunt issued in consequence of amendments made to insolvency rules in Scotland

New Act amends Chapter 74 of the Rules of the Court of Session 1994 and the Act of Sederunt (Sheriff Court Company Insolvency Rules) 1986 in consequence of the amendments made to the Insolvency (Scotland) Rules 1986 by the Insolvency (Scotland) Amendment Rules 2014.

2 May, 2014

Insolvency (Scotland) Amendment Rules 2014

New regulations that update and amend the Insolvency Rules in relation to receivership and the process of liquidation.

1 May, 2014

Bankruptcy and Debt Advice (Scotland) Act 2014 gets Royal Assent

New legislation designed to 'ensure that appropriate, proportionate, debt management and debt relief mechanisms are available to the people of Scotland which are fit for the 21st Century.'

24 April, 2014

Higher tuition fees for students ‘look like they will do little to reduce taxpayer contribution’

However, new Institute for Fiscal Studies report concludes that government won't know true outcome for decades as it depends on what happens to graduate earnings over that period.

22 April, 2014

£450m levy on high cost lenders would fund 1.5m new affordable loans, says IPPR

New report sets out strategy for ending 'poverty premium' experienced by substantial minority of people whose finances are affected by squeeze in income, tightening of credit and reduction in welfare payments.

17 April, 2014

Citizens Advice calls for a change in laws around logbook loans

Regulators and government have quite rightly put payday lending in the spotlight but it is important other forms of credit are also subject to a strong crack-down and toxic forms of lending aren’t allowed to flourish, says Citizens Advice Chief Executive.

4 April, 2014

Bailiffs to be banned from entering homes at night and from using physical force against debtors

From 6 April 2014, new laws also prevent bailiffs from entering homes when only children are present, and from taking household essentials such as cookers, fridges, or washing machines.

3 April, 2014

HMRC powers to recover debt

New regulations issued that align and modernise HMRC's powers to pursue debt in England and Wales by allowing it to use the procedure set out in Schedule 12 to the Tribunals, Courts and Enforcement Act 2007 to recover sums payable to the Commissioners for HMRC

3 April, 2014

Insolvency (Commencement of Proceedings) and Insolvency Rules 1986 (Amendment) Rules 2014

New regulations that makes rules to identify in which hearing centres of the new single County Court insolvency proceedings may be commenced, and to amend the Insolvency Rules 1986 to take account of the single County Court.

3 April, 2014

London Insolvency District (County Court at Central London) Order 2014

New regulations which set down which hearing centres of the new single County Court are included in the London Insolvency District for the purposes of insolvency jurisdiction.

2 April, 2014

Consumer Protection (Amendment) Regulations 2014

New regulations that, amongst other measures, provide for a right of private redress for misleading or aggressive demands for payment (i.e. unfair debt collection).

2 April, 2014

Civil Procedure (Amendment No. 4) Rules 2014

New regulations that provide for amendments to the Civil Procedure Rules including in relation to the implementation of the Tribunals, Courts and Enforcement Act 2007 on bailiff and enforcement reform.

1 April, 2014

Financial Conduct Authority takes responsibility for regulating the £200bn consumer credit market

New research from the FSA also highlights that 9m people are in serious debt and 1.8m in denial.

31 March, 2014

Government agrees to independent review of the Money Advice Service

Service was not in a healthy state and, whilst some worthy attempts have been made to reform it, the jury remains out on whether it should be retained in its current form, says Chair of the Treasury Select Committee.

31 March, 2014

Payday loans have become a debt sentence for many, says Citizens Advice

Payday loan customers who are struggling to repay their loan are not having the interest rate frozen, aren’t warned about the cost of extending the loan and aren’t being told about free debt advice, despite promises from lenders to do so.

25 March, 2014

National Audit Office publishes report on regulating financial services

Encouraging signs that new approaches of Financial Conduct Authority and Prudential Regulation Authority are 'gaining traction', says NAO Head Amyas Morse.

24 March, 2014

Debt cases fall in Scottish courts

New statistics reveal 11 per cent drop in debt cases raised in Scotland in the financial year 2012-2013, compared to 2011-2012.

24 March, 2014

Saville v Central Capital Ltd

[2014] EWCA Civ 337

24 March, 2014

Financial Conduct Authority confirms ‘tough new rules’ for consumer credit market

Changes for payday lenders and debt management companies include mandatory affordability checks for payday borrowers and requirement to provide information to customers on how to get free debt advice.