A short week and a quiet one on the debt news front. Debt news Do claims companies get good results at the Ombudsman? my article, with new statistics from FOS. ASA Ruling on TFLI Ltd Advertising Standards Authority: Wise Old Mary IVA lead generator ads found to be misleading for many reasons including exaggerating the amount of debt that could be written off and not making it clear that … [Read more...]
Weekly News Round-ups
Every week on a Sunday I publish my selection from the last week's news about debt, debt advice and policy.
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The item that isn't in this week's debt news - no announcement yet from the Insolvency Service about changes to DRO limits. Tweet of the week In a world of Wetherspoons, be a Timpsons. (Congrats Jack) https://t.co/HUL2Xrwt43 — Mitten d'Amour (@MittenDAmour) April 1, 2021 Debt news MILLIONS of drivers whose cars were towed away since 1991 could claim back fines because laws … [Read more...]
For debt advisers, two bits of interest from this week news - the Technical guidance for Official Receivers is back online and the statistics showing which advice agencies set up the most DROs. Debt news Debt Awareness Week: Noah's Ark Money Advice Service - video of interview of a client helped to go bankrupt 'I struggled with the bills and my health' BBC: Before the pandemic, … [Read more...]
My pick of last week's news is the proposed Scheme from Provident. Good news of the week is High Court rules DWP’s universal credit deductions policy unlawful. Debt news Amigo's Scheme: FCA urged to act as lender bids to cap payouts to poorest borrowers Guardian: Critics say lender’s plan could enrich directors while poor borrowers miss out over mis-selling claims. Regulatory … [Read more...]
A varied week, from the Chief Ombudsman resigning to a couple of interesting court decisions. Best news of the week - Law for more affordable school uniform could be in place by start of autumn term - although Tories are calling for it to be delayed. Tweet of the week Dorries just said that most nurses will understand and accept the1% pay rise BECAUSE THEY HAVE HUSBANDS AND PARTNERS WHO … [Read more...]
The budget was the big news story last week. Money Advice Trust's 5 things we learned from today’s Budget is a good summary of the small bits that helped people in debt and the larger areas of help that were noticeably absent. Debt news The budget: 5 things we learned from today’s Budget Money Advice Trust Budget 2021: A missed opportunity for welfare certainty Policy in … [Read more...]
The major news last week was the long-awaited and epic in scope FCA Guidance for firms on the fair treatment of vulnerable customers. But for a shorter read, try Louise Casey: 'Are we ever going to create a Britain for everyone?' Debt news Guidance for firms on the fair treatment of vulnerable customers FCA: We want to drive improvements in the way firms treat vulnerable consumers and … [Read more...]
My pick of last week's news is the Resolution Foundations' report on rent arrears: Tackling the UK’s building arrears crisis. Graph of the week In our thought experiment, we apply the growing housing arrears and apply it to see what it could mean for the courts resolving such issues. Bluntly, the courts will be put under severe strain, causing further problems for renters and landlords … [Read more...]
My pick of last week's new are the articles on changing the DRO criteria. Tweet of the week “To recommend thrift to the poor is both grotesque and insulting. It is like advising a man who is starving to eat less.” - Oscar Wilde - — 🅼🅰🆁🅸🅰 🅼. (@mariabowiemuser) February 13, 2021 Debt news FCA finds the Covid-19 pandemic leaves over a quarter of UK adults with low financial … [Read more...]
My pick of last week's news is the Woolard Review. Debt news Review into change and innovation in the unsecured credit market (the Woolard Review) FCA: A report by the FCA's previous CEO. Demanding regulation of BNPL such as Klarna made the most headlines, but it's a lot wider-ranging eg sections on debt advice. Five reasons why the Woolard review hits all the right notes Money Advice … [Read more...]