My pick of last weeks news is the Dear CEO letter the FCA has sent debt management firms about annual client reviews.
Graph of the week
US data but still interesting!
— Equitable Growth (@equitablegrowth) December 6, 2016
Update on the Pre-action Protocol for Debt Claims (PAP) another small step forward – will this come in 2017? I’m not holding my breath.
Is “settled” better than “satisfied” on your credit record? And what is the difference?
The great credit card rip–off (£ Times) An investigation by The Times has found that charges of up to 3.5 per cent are widespread, with hundreds of companies, local authorities and universities levying fees that appear well in excess of the basic cost.
Why taking out £100 cash on a credit card can cost you £7.20…even if you pay it all off at the end of the month Official figures show that borrowers are using credit cards to take out as much as £12 million a day from ATMs.
Claim back tax deducted from a PPI refund From April this year the 8% added interest to refunds such as PPI and payday loans is taxable but counts as savings income – so the first £1,000 should be tax-free.
Dear CEO – the FCA writes to Debt Management firms about annual reviews and what should happen if a customer doesn’t engage.
A survival guide to dealing with a tax credit overpayment A new self help guide from Advicenow.
Ombudsman News Nov-Dec 2016 Focuses on some debt cases involving mental health issues.
University of Glasgow agrees new approach for students in debt Glasgow University will not prevent students from graduating or re-enrolling because of non-tuition fee debts, following CMA intervention.
Food banks have tragically become a normal way of life as 3.8MILLION UK workers live in poverty Zero hours contracts are forcing Brits into foodbanks across the country as they have nowhere else to turn.
Work should be a route to a better life, but people need to be paid properly Working for a living is not providing a living, at least not for the 7.4 million people, which includes 2.6 million children, who are living in poverty despite being in working households.
Cut fixed-odds betting stakes to £2, MPs urge Parliamentary group also wants councils to be able to stop bookies ‘clustering’ shops as charity says measures could be ineffective.
Thousands of UK restaurants could go bust Moore Stephens says that 5,570 restaurant businesses have at least a 30% chance of insolvency in the next three years, due to inflationary pressures and stagnating disposable incomes.
Town halls set to raise council tax without consulting voters: Nine out of ten local authorities admit they will increase charge by four times inflation. This year’s average 3.1% rise was the highest since the recession struck in 2008. Bills are expected to rise next April by between 3.9 per cent and 3.99 per cent.