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26 July, 2012

Reaction to publication of customer charter on payday lending

Leading organisations issue responses to new Good Practice Customer Charter.

25 July, 2012

New customer charter on payday lending

Consumer Finance Association publishes new charter that sets out a series of new protections for short term lending.

19 July, 2012

Government gives OFT power to suspend consumer credit licenses with immediate effect

Licenses will be suspended where there is an urgent need to protect the interest of consumers.

16 July, 2012

Insolvency Service publishes Annual Report and Accounts 2011/2012

Report shows that Insolvency Service handled 25 per cent fewer insolvency cases than in 2010/2011.

10 July, 2012

Consumer Credit (Total Charge for Credit) (Amendment) Regulations 2012

New regulations amend provisions which set out assumptions for the purposes of calculating the total charge for credit and the annual percentage rate of charge.

5 July, 2012

Amount of unsecured credit taken on rises to £732m in May 2012

People borrowing to bridge gap between inflation and growth in earnings, says Money Advice in response to new Bank of England figures.

4 July, 2012

Head of Money Advice Service resigns

Tony Hobman says that he will leave with mixed feelings but is reassured in the knowledge that the Service employs dedicated people working very energetically and creatively to help the millions of people who fall into the advice gap every day.

27 June, 2012

Further investment to secure future of credit unions

Minister for Welfare Reform Lord Freud announces that credit unions will receive up to £38m of investment to support one million more people.

20 June, 2012

Insolvency Act 1986 (Disqualification from Parliament) Order 2012

New regulations introduce new Parliamentary disqualification provisions for members subject to bankruptcy proceedings in Northern Ireland that are equivalent to the provisions applying in England and Wales.

12 June, 2012

Rise in council tax arrears

New Consumer Credit Counselling Service report shows a 27 per cent increase in the number of people needing help with council tax arrears despite council tax freeze.

7 June, 2012

Low interest rates helping young homeowners

New figures from Consumer Credit Counselling Service show that fewer homeowners in their twenties are seeking the charity’s help, and the number of homeowners in mortgage arrears has almost halved in two years.

7 June, 2012

Mortgage rescue scheme information

Department for Communities and Local Government publishes leaflet that provides general information on the scheme.

30 May, 2012

Thousands of renters being forced into debt by high rents

Consumer Credit Counselling Service figures show a 27 per cent increase on previous year in number of requests for help from people with rent arrears.

25 May, 2012

Payday lenders agree to improve their codes of practice

Agreement comes as government responds to Department of Business, Innovation and Skills Select Committee’s Report into Debt Management and sets out further actions on payday loans, consumer credit regulation and debt management.

24 May, 2012

One in seven working families with disabled children are going without food

New Contact a Family research shows that families with disabled children are going without essentials and spiralling into debt before the full impact of planned benefit cuts is felt.

23 May, 2012

OFT requires Wonga to ensure improved debt collection practices

Action follows statements made to customers in two types of written communications and in the wording of one call script.

21 May, 2012

Citizens Advice responds to Ministry of Justice transforming bailiff action consultation

Charity welcomes government’s commitment to deal with aggressive bailiffs, however, consultation proposes little or nothing new to help protect people in financial difficulties against aggressive bailiffs.

17 May, 2012

Individual insolvencies by region 2000 to 2012

The Insolvency Service publishes statistics for total individual insolvencies, bankruptcy orders, debt relief orders and individual voluntary arrangements in England & Wales by geographical area.

16 May, 2012

Predicted rise in number of people facing serious debt problems

Recent Insolvency Service figures show a 27.2 per cent decrease in bankruptcies, however Debt Relief Orders have increased by 16.3 per cent and Individual Voluntary Arrangements have risen by 8.1 per cent, reports Money Advice Trust.