My pick of last week's news is the two insolvency stories. The Accountant in Bankruptcy’s Shame: Bankruptcy Application Fees shows how £90 and £200 fees are causing hardship in Scotland. The Insolvency Service would find a worse situation if it bothered to look at the £90 and £680 fees it charges. And Fake or Fortune? The astounding saga of James Stunt just for fun. Tweet of the week Oh … [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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My pick of last week's news is the dull-sounding Consultation with the Advertising Standards Authority over Universal Credit adverts. Two weeks ago the story that DWP adverts had been found to be misleading was big news. This new article shows the DWP had been told this by the ASA before they ran the adverts. Debt news In Black Friday week, a couple of articles on shopping addiction: … [Read more...]
My pick of last week's news is the ASA ruling against an IVA lead generator. Tweet of the week I know this won't reach many due to my small amount of followers. But for any UK followers or anyone that sees this. If you are struggling with debt. Contact @StepChange and @CitizensAdvice. I buried my head in the sand for too long. These guys helped me out so much. Do it now — MechanicCraig … [Read more...]
My pick of last week's news is one you may have missed: Online broker launches free bad credit mortgage advice. Graphic of the week The breathtaking decline in child mortality across the world by @toddrjones pic.twitter.com/mkVXhL82gn — Matt Ridley (@mattwridley) November 16, 2019 Debt news Stella Creasy calls for inquiry into FCA over Wonga and QuickQuid Guardian: "The … [Read more...]
Two wins for campaigners this week, with the admission, that VAT can't be charged on HCEO fees and the DWP told not to run misleading Universal Credit adverts again. Tweet of the week “You won’t see our branding [on the #UniversalCredit ads], and this is deliberate” We’ll let the below internal memo from the @DWP speak for itself … Join our campaign to demand @DWP #StopMisleading … [Read more...]
In a quiet week for debt news, my pick of the articles are the two items on Fines. Tweet of the week Watch this extraordinary exchange: ‘You should be ashamed,’@KenLoachSixteen He challenges former Barnet councillor Brian Coleman who tries to defend the poor living conditions - cockroaches, damp and drug users, revealed in our film.https://t.co/UoDAu8mHy8 … [Read more...]
QuickQuid collapses Sky broke the story: Biggest payday lender QuickQuid on brink of collapse. This was then confirmed when QuickQuid's American parent said it was exiting the UK: Customers owed refunds to lose out as QuickQuid closes My story QuickQuid owner on brink of collapse as payday lender complaints surge Guardian; QuickQuid: UK's largest payday lending firm to close … [Read more...]
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...]