Inflation unexpectedly increased to 10.4% in the year to February 2023 from 10.1% in January. Contributing to the rise in inflation was a UK wide fruit and vegetable shortage, pushing up food prices at the fastest rate in 45 years. Other costs, including alcohol and clothing also rose significantly last month whilst fuel prices continued […]
Read MoreThe Bank of England has raised the bank rate from 4% to 4.25%. The bank said that the increase, which the monetary policy committee voted in favour of by a majority of seven to two, is because “cost and price pressures have remained elevated”. The new rate, which is the highest level in 14 years, […]
Read MoreThe Financial Conduct Authority (FCA), the UK’s financial watchdog, has proposed a ban on debt packagers. Debt packagers are third-party marketers, which are paid a commission for referring customers to fee charging debt management firms. The commission can be substantial and has led to debt packagers steering clients towards potentially unsuitable debt solutions. The proposed […]
Read MoreAs a debt charity we answer lots of questions about debt, but one of the most common questions we answer is about Count Court Judgments (CCJ) and how to find the claimant details. For the majority we speak to, they find out they have a CCJ when they apply for something, a property (renting or […]
Read MoreIt has been revealed that more than one million households with pre-payment meters didn’t redeem their monthly energy voucher in December. The government previously announced that the Energy Support Scheme would provide £400 to every household in Britain to help with rising energy costs. Whilst those that pay their energy bills by direct debt automatically […]
Read MoreDeputy Prime Minister, Lord Chancellor and Secretary of State for Justice, Dominic Raab has announced bailiffs will have to wear body cameras in future in an effort to curb aggressive tactics from private enforcement agents. Although the majority of enforcement agents act in accordance with the relevant laws and regulations, there are often reports of […]
Read MoreAs the fuel poverty crisis continues, energy suppliers are coming under fire for continuing to switch people to prepayment meters despite a letter from OFGEM last month reminding them of their obligations before doing this. OFGEM has identified significant failings within some companies where debt repayments are so high, that customers are having to self […]
Read MoreThe proposed Statutory Debt Repayment Plan (SDRP), which will allow someone with qualifying debt to enter a legally protected statutory agreement to repay their debts, has been put on hold until 2023. The delay has come in response to a stakeholder consultation with concerns being raised about a number of aspects of the instrument from […]
Read MoreThe deadline for the Council Tax Rebate Scheme has been extended until 30th November. Whilst most eligible people have received the rebate, there are still a relatively small number of households who have not yet claimed. The deadline of the 30th will not be extended. The rebate can be redeemed in a number of ways:- […]
Read MoreThe insolvency service has released their quarterly statistics on individual insolvency for the period covering July to September (Q3). The stats show that although there has been an increase in the amount of individuals being declared bankrupt, up 66 from the previous quarter, IVA’s are still the most common form of insolvency with 20,635 in […]
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