The 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 […]
Read MoreGoogle have recently announced a new measure to help protect consumers and legitimate organisations in the UK when advertising debt advice and support services. Only those who are authorised by the Financial Conduct Authority (FCA) for debt counselling and debt adjusting will be able to show their advertisements for debt services. The new policy will […]
Read MoreWith the rising cost of living, there is growing concern that people are turning to loan sharks to help pay for food, rent/mortgage and other priority bills. Below is some helpful information so you can spot a loan shark and how to get support if you, or someone you know, is affected by this. What […]
Read MoreBuy Now Pay Later (BNPL) agreements have been around since the 19th century, when they were typically used to buy large, expensive items of furniture or farming equipment. Whilst the agreements have changed over the years, the premise is still the same, payments are spread over a period of time and you can own the […]
Read MoreIn response to a growing campaign from UK charities and anti-poverty groups about rising energy costs, the government has announced a new energy price cap from 1st October. The new cap will limit a typical household energy bill to £2,500 for 2 winters, significantly below the planned October rise to £3,549. In addition to the […]
Read MoreOFGEM has announced that the energy price cap, the mechanism by which the energy sector regulator controls domestic energy costs, will increase by 80 percent from 1st October 2022 due to rising wholesale gas and electricity prices. The increase, which follows a 54% increase in the price cap in April 2022, is expected to see […]
Read MoreThe Financial Conduct Authority (FCA) has announced proposals to tackle overdraft charges as part of its review into the high cost of credit. The FCA revealed that in 2017, firms made over £2.4bn from overdrafts, with around 30% of that figure coming from unarranged overdrafts. Of particular concern was the fact that more than 50% […]
Read MoreThe Insolvency Service (IS) has reported that it processed the 250,000 Debt Relief Order (DRO) in November 2018. DROs were introduced by the Government in April 2009 as a low cost alternative to Bankruptcy for people with relatively straightforward financial situations. DROs, which cost £90, are only available to people with less than £20,000 of […]
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