My pick of last weeks news is the article discussing JRF’s report on the cost of poverty The ‘More or Less?’ quiz on ‘counting the cost of UK poverty’ asks (and answers) the sorts of questions the Radio 4 program on making sense of statistics does. Grab a coffee and a mince pie, it’s interesting.
Barring any extraordinary events in the debt world, my next news round up will be on 8th January. Have a good break, everyone!
Graph of the week
Base rate cut to 0.25% in August led to a fall in the proportion of mortgage balances within 2% of base rate in Q3: the first since Q2 2013 pic.twitter.com/Zy3T6vf9i2
— Matt Whittaker (@MattWhittakerRF) December 13, 2016
Have cuts to Council Tax Support in England led to rising council tax arrears? This NPI briefing paper looks at the relationship between the generosity of council tax support schemes and council tax arrears.
CAP’s Freedom Report looks at a survey of 214 clients who cleared their debts with help from CAP using a DMP or a DRO over a year ago – and my article discussing it: How long do people stay debt free after a DMP or DRO?
The Money Stats – unsecured private debt tops £190 billion Total outstanding consumer credit has risen above £190 billion, the highest level seen since 2008.
Millions of bank customers on raw deals, figures suggest 3.7 million people have “basic” bank accounts where they are still being charged fees. Which prompted me to write 4 reasons why you need a new bank account.
How deep is your debt? 60% of mortgage borrowers oblivious to how much they owe – and the £1000s they could save by switching Millions of borrowers are missing out on huge savings by failing to address the issue, perhaps because they associate mortgages with stress.
Families facing ‘nasty hangover of debt’ after Christmas splurge More than half (54%) of families who have already found themselves in problem debt this year plan to borrow more to cover the cost of Christmas, the Children’s Society research found.
Small firm owners ‘risking it all’ with lack of understanding around loan guarantees Small business owners are putting their homes and savings at risk because they do not understand personal guarantees that they sign when taking out loans from high street banks, according to a report.
I was turned down for a new bank account after Vodafone blundered and cancelled my payments “Something is going seriously wrong at Vodafone as your story is the third one along these lines [This is Money has] heard about in the past few months.”
FCA launches consultation on changes to its FSCS rules – Debt Management firms may be included, and may have to pay…
Why politicians must listen to people on low incomes One reason UK poverty persists is that people on low incomes are often marginalised. They must have a stronger voice in democracy, says Claire Ainsley.
The ‘More or Less?’ quiz on ‘counting the cost of UK poverty’ Asking some hard – and interesting! – questions about the cost of poverty to the UK economy.