A lot of big news stories this week including Wonga’s emergency financing and Bank of England interest rate rise. But if you haven’t read it, my top pick is my own story on the reasons why Vanquis’s ROP refunds are much too low.
Tweet of the week
— Shelter (@Shelter) August 3, 2018
Vanquis ROP refunds are too low – it’s time to complain My article pointing out the 2 big problems with the calculations Vanquis is doing.
- my comments on this: Payday loan refunds push Wonga to brink of insolvency
PS18/19: Assessing creditworthiness in consumer credit FCA: The rules come into force in November. “we do expect firms to have effective processes in place aimed at eliminating lending that is foreseeably unaffordable.”
Mapped: sharp rise in council tax arrears as residents feel the strain LGC: LGC analysis did not find a correlation between total court costs for debt collection and the total amount of tax paid.
More families struggle with school uniform costs says survey The Irish News: MORE than a third (37 per cent) of families in Northern Ireland say they are getting into debt to cover the expense of back-to-school costs
Credit card lending continues to rise as Bank of England gears up for interest rate hike Independent: The annual growth rate of credit card lending rose to 9.5 per cent in June.
Mortgage prisoners could be offered a lifeline as lenders commit to helping homeowners trapped on high rates Mail: this won’t help the estimated 20,000 homeowners that the City watchdog has identified as being with lenders that are no longer active in the market, and the 120,000 customers with unregulated mortgage lenders.
- Concern over 80-mile round trip for Universal Credit claimants in the Borders Peebleshire News
- Ministers’ plan to research effect of policies on food bank use Guardian: Exclusive: ministers want to identify policies or practices that may have contributed to rise in demand for food banks. Nobody outside the DWP and the government thinks this is a hard question to answer…
- Esther McVey loses in court on Universal Credit – but says she will still fight others Mirror:
The long waits for help under UC continue to drive impoverished families below the breadline.
- Bereaved universal credit families face over-payment debt threat Welfare Weekly: If a Universal Credit claimant dies, regardless of when, they are classed as having died from the start of their four week assessment period.