Industry News - Page 2 of 44 - Debt Advice Foundation

Google tighten rules surrounding financial advertising for debt services

Google 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 […]

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Could you have borrowed money from a Loan Shark??

With 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 […]

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Buy Now Pay Later – Increasing use, increasing problems?

Buy 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 […]

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Energy price cap limit announced

In 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 […]

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OFGEM to raise energy price cap in October

OFGEM 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 […]

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Financial Conduct Authority set to tackle overdraft charges

The 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% […]

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Debt Relief Orders hit milestone

The 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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FCA proposes cost of credit cap in rent to own sector

The Financial Conduct Authority (FCA) has proposed a price cap in the rent to own (RTO) sector for domestic goods. The cap, which follows a successful similar scheme introduced in the payday lending sector, will come into force on 1st April 2019 and will restrict credit charges to no more than the price of the product […]

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Government helps those on low incomes to save

Help-to-Save Scheme officially launches A new savings account has been launched by the UK Government in a bid to encourage low-paid households to save for a rainy day. Via a Help-to-Save account, an estimated 3.5 million people on working tax credits or universal credits will be given a 50% bonus on every £1 saved over […]

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Generous Brits are at risk of losing £9.1 billion to their mates

Half of those who lend to friends and family say they won’t get it back According to price comparison site Finder, people across the UK loaned £16.6 billion to friends and family last year, but 55% don’t believe they will get all of their money back. The report states that 24.5 million had given out […]

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