Top tips to surviving financial difficulty

How to survive being in debt

There is no typical person who is most likely to get into debt. It can literally happen to anyone, at any time. Often there is a ‘shock’ which radically lowers household income, such as job loss or the end of a relationship. With many people having little savings, they can find they are no longer able to repay monthly credit commitments or start to run up debts to meet living costs.

Debt Advice Foundation passes with flying colours

Quality mark retained after audit

Staff at Debt Advice Foundation are celebrating after successfully maintaining the charity’s Advice Quality Standard (AQS) approved status, a nationally recognised quality mark for organisations who provide free and independent advice to members of the public.  

New help for home improvement workers to tackle problem debt

Two charities have formed an alliance to tackle the impact of low income and debt 

HSBC to pay £4million in redress

HSBC has agreed to set up a compensation scheme for customers who may have paid unreasonable debt collection charges

UK inflation at highest for 2 years

Inflation was at its highest in December since July 2014

Inflation rose to 1.6% between December 2015 and December 2016, a sharp rise when compared with a 1.2% rise between November 2015 and November 2016.

Financial watchdog sends warning letter to debt firms

The Financial Conduct Authority, which manages financial organisations in Britain, has sent a letter to debt management companies reminding them of their obligations to their existing debt management customers


Are customers in arrears treated fairly by lenders?

Report finds some companies have a way to go in supporting customers who are in financial difficulty

The Financial Conduct Authority (FCA) has found that whilst many firms are improving the way they deal with customers in early arrears, there are a number of areas where consumer credit firms still need to improve their practices.

New measures to make savings accounts easier to understand

The FCA has published new data on savings interest rates and announces new rules coming into effect

The Financial Conduct Authority (FCA) is undertaking work to “shine a light” on firms’ strategies and deals for their long-standing savings customers.  

Overhaul of UK payment systems

UK payments systems are due to see their biggest change in a generation according to the Payment Systems Regulator

Bank of England gives stark warning about household debt in the UK

The governor of the Bank of England, Mark Carney, has revealed that overall unsecured debt is rising at its fastest pace for 11 years