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
— Matt Ridley (@mattwridley) November 16, 2019
Stella Creasy calls for inquiry into FCA over Wonga and QuickQuid Guardian: “The regulator was supposed to be keeping an eye on these people and we are now seeing these companies collapse.”
- Retailers ‘luring’ shoppers into Christmas deals with eye-watering interest rates Mirror: Critics said customers could be put in debt for months or years to come due to the high amounts of money they will have to pay – retailers charge up to 119 per cent APR.
- True cost of those zero % credit cards: Banks hike interest rates to record high Mail: ‘The people who are paying for everyone else’s free debt are the people who can least afford to.”
Payment firm Klarna messed up my credit score, says student BBC: Late fees can be charged if shoppers miss payment deadlines, but this is not mentioned in its online adverts. Late payments to Clearpay can also be added to credit records.
Student forced to turn to food bank by loan delay BBC: a mistake between Student Finance England, which administers the loans, and the university meant his payment was delayed, leaving him without money for two weeks.
- The next government needs to make sure people in debt are treated fairly Citizens Advice: That means changing how council tax debts are collected.
- Councils get just 27p from every £1 collected by bailiffs – and it’s pushing households into debt Sun.
- Secret plot to kill off your paper bank statements Mail: the bank quietly changed its policy in September and will no longer allow customers to pop into their local branch to get a paper statement.
- Banking tech could lead to discrimination, says ex-regulator Guardian: Banks can now more accurately identify ‘unprofitable’ or costly customers.
Online broker launches free bad credit mortgage advice Which? Online mortgage broker Habito partners with bad credit specialist to help applicants with IVAs, CCJs and bankruptcies.
Should Universal Credit be scrapped? Prospect contributors debate: A flawed system with great potential—or a replacement benefits service that isn’t fit for purpose?
Half of disability benefits appeals won in tribunal court BBC: more than 550,000 people won an appeal over their benefits at tribunal between 2013 and 2018.
UK government loses supreme court fight over bedroom tax Guardian: Judgment will restore full housing benefit to at least 155 partners of disabled people.