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Over 65’s to owe £86bn by the end of the year

Research finds older borrowers are failing to pay off debts before retirement age 

 
A new study commissioned by More2Life has found that overall debt for over-65s has grown to 35bn in three years and is expected to surpass last year's figure of £78bn. This figure includes all types of secured and unsecured debt including mortgages, credit cards, car finance and payday loans.
 

DAF chosen for community fund

Debt Advice Foundation has been chosen as one of the latest beneficiaries of the Co-op’s local community fund

 
We are asking for Co-op customers to help us raise money for our financial capability education programme, DebtAware
 

Over half of those in debt not seeking help

Only 4 in 10 struggling with finances seek assistance

A poll from Nationwide Building Society has found that most of those struggling with debt manage it alone. 
 

Unsolicited calls from Debt Advice Foundation

Have you had a call from us that you didn’t ask for?

 
We have posted this previously but we have had an influx of new complaints today. Please be aware that a fraudster is calling members of the public pretending to be from Debt Advice Foundation.
 

Number of IVAs reached highest quarter total on record

Individual Voluntary Arrangements reach highest levels since they were introduced in 1986

 
A release from the Insolvency Service has shown that the number of people becoming insolvent in England and Wales has reached the highest levels since 2012. There were 27,388 individual insolvencies in Q1 2018, which is 8.5% higher than in the same quarter the previous year.
 

Loan fee scam alert

FCA warning as £3.5 million lost to loan fee fraud in 2017

 

The FCA has issued a warning that there is an increased risk of scammers targeting those searching for a loan.

 

Bank of England visits Debt Advice Foundation’s Offices

Chief Economist learns about the charity’s financial capability work

 
Debt Advice Foundation recently welcomed the Bank of England to the home of DebtAware, the charity’s national financial education programme.  
 

We are proud to support this year’s Financial Capability Week

Debt Advice Foundation aims to get people to “Talk Money” 

 
Launching Monday 13 November, FinCap Week will celebrate, showcase and amplify the work underway to improve financial capability in the UK and ultimately, to improve financial well-being. 
 

Bank of England raises bank rate

The Bank of England has raised the official bank rate from 0.25% to 0.5%.

The decision, which was passed by the central bank’s Monetary Policy Committee by 7 votes to 2, is the first rate rise in over a decade.

Governor of the Bank of England Mark Carney stated that Brexit negotiations would play a crucial role in shaping future monetary policy and that future rate rises were likely in order to return inflation to the Bank’s target 2%.

Debt Advice Foundation shortlisted for charity funding

Financial capability project in the running to receive a share of £120,000 

 
Following a thorough two-stage application process, Debt Advice Foundation’s educational programme DebtAware has been announced as one of five campaigns to potentially win a share of funds from the OneFamily Foundation. 
 
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