The water regulator, Ofwat, has released draft proposals for an increase in sector investment that will see average water bills rise by £19 per year over the next five years. The increase in spending is required to tackle pollution, improve water quality and deliver greater resilience to the impact of climate change according to the […]
Read MoreA debt management plan (DMP) is an informal arrangement between yourself (the debtor) and the people you owe money to (the creditors). If you are unable to pay your debts as they fall due then an affordable repayment plan is negotiated with your creditors. The offer of repayment should be fair to both you and […]
Read MoreIn April, the Chancellor announced that the fee for entering a Debt Relief Order (DRO) was to be scrapped. The fee of £90 had in place since DROs came into force in April 2009. According to figures from the Insolvency Service, 3,436 people entered a DRO in April, the first month since the £90 fee […]
Read MoreInflation 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 […]
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