My pick of last week's news is the great report from ASIC: "Disclosure - why it shouldn't be the default." Everyone interested in consumer and financial regulation should read it! Debt news Has Wonga offered you a low settlement? This may be a bad offer! My article. Are the Wonga Administrators misleading people who have an outstanding loan? Rules juggle protection of payday loan … [Read more...]

My pick of last week's news is Barclay's decision to stop its customers taking money out in a post office. Debt news Government response to Treasury Select Committee re the FCA's perimeter Treasury Select Committee: "The Government does not therefore see the case for providing a formal power for the FCA to request changes to the perimeter." For why this matters to debt issues, see … [Read more...]

My pick of last week's news is the number of Wonga mis-sold loans.  Debt news Wonga's legacy of nearly 400,000 mis-sold loans BBC: As the Wonga administrators stop accepting any more claims, the true extent of the number of customers who won't get a full refund emerges. Three changes you need to know about the DMHEF Money Advice Trust blog: simpler, no charges and now hosted at MAT not … [Read more...]

My pick of last week's news is that more than one million parking ticket debts were sent to bailiffs by local authorities. Tweet of the week It's wonderful to receive a letter from the Student Loans Company and see that my debt is only £46,198.83. Massive thank you to the @Conservatives & @LibDems. Forever grateful to you guys. ❤️ pic.twitter.com/DsnSBRQa63 — Zarah Sultana … [Read more...]

My pick of last week's news is Ucas criticised for promoting 'inappropriate' private loans to students. Tweet of the week we will soon have our 7th work and pensions secretary since 2016 — Jim Pickard (@PickardJE) September 7, 2019 And it's Therese Coffey, who thinks pensioners should pay National Insurance and, a landlord herself, voted against the Homes (Fitness for Human … [Read more...]

In a quiet week on the news front, the statistic that FOS is upholding 83% customer complaints about guarantor loan firms is my top pick. For a non-UK topic you may have missed, read Speculators make 13% returns but fail to pay out in response to Ebola in DR Congo. Debt news April-June Financial Ombudsman Complaint statistics by product FOS 83% of guarantor loan cases won at … [Read more...]

In a quiet week, my two top picks are my article on UK credit records & scores and the Times article - unfortunately behind a paywall - on Hostile environment: immigration system keeps families like ours in debt. Debt news CRUEL UNIFORM Payday lenders are targeting skint parents and charging 1,333% interest on children’s school gear Sun: The loan shark-style firms’ websites feature … [Read more...]

The quiet announcement that CAP isn't taking on any new debt clients until 2020 has come as a shock to the sector. Tweet of the week I’ve only spent 25 years stopping thousands of Glaswegians being evicted or repossessed from their homes. Got £1.7bn back in bank charges for free. Wrote the payday loan & bedroom tax guides that were downloaded hundreds of thousands of times. Yet GCC … [Read more...]

My pick of last week's news is one you may not have read Have retirement interest-only mortgages flopped? Tweet of the week I have absolutely zero sympathy for banks. They brought it on themselves. Had they dealt with PPI when concerns were first raised about sales process, then dealt with complaints properly, then didn’t fight tooth and nail against payouts...they mightn’t be in this … [Read more...]

My pick of last week's news is the news that bailiffs made to wear body cameras - but to be effective it needs independent complaints and regulation as well. Tweet of the week End of another exhausting week in #debtadvice, not helped by heat, no air con at work, & thunderstorms causing sleepless nights! But... 2 great outcomes for clients have cheered me. This is what I go to work … [Read more...]