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 […]
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 MoreDebt Advice Foundation is reporting record increases in energy debt callers to its telephone helpline. The charity’s latest statistical release reveals that average household energy debt stood at £632 in the quarter to August 2022, a 57% increase on the same quarter in the previous year and 28% higher than any other quarter on record. […]
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 […]
Read MoreThe 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 […]
Read MoreWhy we create a monthly statistical report on debt Every month, Debt Advice Foundation compiles a statistical resource based anonymously on those who have called us in the previous completed month. How we compile them When someone calls us for help, it is not always for debt advice. In August, we got calls about a […]
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