Industry News | Page 2 of 42 | Debt Advice Foundation

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. The lender commissioned the report to encourage people in problematic debt to ask for help earlier and they questioned over 2,000 UK adults. Of those interviewed 29% felt […]

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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 […]

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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. In 2017 there was a 44% jump in reports of loan fee fraud made to the Financial Conduct Authority, where fraudsters contact those […]

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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. Debt Advice Foundation aims to improve financial capability in children through its financial education programme DebtAware. DebtAware has […]

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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 […]

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People in debt to be given breathing space

Under new rules being drawn up by Government, people struggling with debt would be given six weeks of breathing space in which to seek advice about their situation. The plan, which the Treasury is currently consulting on, would see anyone struggling to keep up with their debt repayments exempted from further interest, charges and creditor […]

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