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FCA proposes temporary financial relief for customers impacted by coronavirus

02 Apr 2020 | Posted In Money advice news

The Financial Conduct Authority (FCA) has proposed a range of targeted temporary measures designed as a stop-gap to quickly support users of certain consumer credit products who are facing a financial impact because of the exceptional circumstances arising from coronavirus. This package is intended to complement measures already announced by the government to support mortgage […]

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Credit Services Association provides online hub for COVID-19 updates for the debt collection and debt purchase sectors

01 Apr 2020 | Posted In Money advice news

The Credit Services Association (CSA), the UK trade body for the debt collection and debt purchases sectors, has created an online hub for its members to keep abreast of the latest official relevant information relating to the Coronavirus pandemic. It includes key considerations for member firms along with regulatory updates and links to ‘virtual’ members’ […]

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Cross-CRA guidance for lenders reporting forbearance during Coronavirus outbreak

01 Apr 2020 | Posted In Money advice news

New guidance has been published by credit reference agencies (CRAs) to advise lenders on how to report credit data when they grant consumers forbearance as a result of COVID-19. The guidance aims to deliver the objective set out in the joint letter from the Chancellor, the Governor of the Bank of England, the CEO of the FCA […]

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Coronavirus – good news about protecting your credit score

01 Apr 2020 | Posted In Money advice news

Money advice blogger Debt Camel (Sara Williams) has been sharing useful updates for those impacted financially by the Coronavirus outbreak, including this good news about the three big UK credit reference agencies (Experian, Equifax and TransUnion) agreeing that having a temporary “payment holiday” with a lender won’t harm your credit score during this period. Read more.

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Nationwide announces financial support package for those impacted by Coronavirus

01 Apr 2020 | Posted In Money advice news

A comprehensive support package for those financially impacted by coronavirus has been set out by Nationwide Building Society as it increases help for those struggling. Britain’s biggest building society has developed a dedicated coronavirus support page to make it as easy as possible to arrange payment breaks. The online resource is intended for anyone who is or […]

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