It is expected that the Financial Conduct Authority (FCA) will make an announcement in June 2014 on capping the costs of high-interest, short term credit usually known as payday loans. It isn't clear if this will be a single proposed measure or a range of options leading to further industry consultation. Last November, the FCA was given a duty in the Banking Reform Bill to introduce a cap on … [Read more...]
Debt news and policy
Debt Camel articles on what's happening in the world of personal debt in Britain.
For my collections of other news items, please see Weekly News Summaries.
Over 1,000 people are now using North East Derbyshire CAB's (NEDCAB) award-winning debt advice website to run their own Debt Management Plans (DMPs). Since its launch in 2102, the NEDCAB system has now grown into a comprehensive on-line resource, helping users find the best debt solutions for them and with pages of information e.g. how to complete bankruptcy forms. NEDCAB use the system in their … [Read more...]
Peversely, the rise in the minimum wage of just 19p an hour that came into effect on 1 October 2013, means that some carers will lose £59.75 in benefit. Carers Allowance is a flat rate of £59.75 paid to people who care for someone disabled for more than 35 hours a week. The eligibility requirements are here - one of these is that you can't earn more than £100 a week. Many carers can't work … [Read more...]