Two articles this week are individually very worrying – and taken together even more so: Providers of debt advice warn of funding crisis and £19 billion owed in everyday bills, as Citizens Advice reveals it helps 1 person every 3 minutes with bailiff issues.
Tweet of the week
We just heard that we successfully overturned the local authority’s decision to recover £59,000 from a single Mum in relation to her #housing #benefit claim! Calculation errors and assumed information was discovered by our adviser. pic.twitter.com/2p2GXsX5XR
— CitizensAdvice Brent (@BrentCAB) August 23, 2018
Providers of debt advice warn of funding crisis FT (£ paywall): Number seeking help could rise 200% by 2020 but collection agencies not paying contributions.
£19 billion owed in everyday bills, as Citizens Advice reveals it helps 1 person every 3 minutes with bailiff issues Citizens Advice: people it helps with household bill problems tend to be in a more precarious financial position than those with consumer credit debts. The charity says people with household bill debt were 37% more likely to be out of full-time employment and almost 1 in 3 people (34%) had a mental health problem.
Experian secures FCA mortgage eligibility permission Credit Connect: The permission means Experian will now roll out its eligibility tool to all its customers, giving potential homeowners the opportunity to find out which mortgages they are likely to be accepted for, and how much they could borrow, based on lenders’ criteria.
Student loan interest rates and repayment thresholds to rise – what you need to know MSE: The Department for Education has this week confirmed how the student loan rates and repayment thresholds will rise for the forthcoming year.
UK’s ‘no-deal’ Brexit plans warn of credit card fees BBC: The cost of card payments between the UK and EU will “likely increase” and won’t be covered by a ban on surcharges. (don’t ask me what this means!)
Fraud and scams: a moving picture – Financial Ombudsman’s latest newsletter.
FCA’s consultation on home-collected credit, catalogue credit & store cards My article – the deadline for submitting comments is August 31. It would be great if lots of people can comment, especially on the feeble Buy Now Pay Later provisions where the FCA needs to just ban the backdating of interest as being unfair.
School uniform costs force families into debt, says Children’s Society Ecclesia: The Children’s Society… found that 13 per cent of parents were getting into debt to cover costs of school uniform – up from seven per cent when the charity conducted the same survey in 2015.
Universal credit news
Universal Credit Amendment Regulations: Our response to SSAC consultation JRF: ongoing delivery and design problems mean that increasing volumes from mid-2019 looks extremely risky
Housing Costs under Universal Credit: Inadequate, Mismanaged and Harmful Z2K blog: The recurring mismanagement of housing costs has caused numerous problems for vulnerable claimants at every turn
National Living Wage ‘fails to cover families’ basic needs’ BBC: A couple with two children would be £49 a week short of the income needed, [CPAG] said.
Britain is facing a ‘generational time bomb’ of children conditioned to think that gambling is normal Telegraph: these games allow children to gamble quite openly – just without money.