Credit Services Association says Government must improve its debt collection practices
In a new report, the Credit Services Association (CSA), the UK trade body for the debt collection and debt purchase sector, has called for the government to improve its methods for collecting debts to help service users more effectively and boost collections revenues. The report, “Keeping Pace: Where next for public sector collection practices?”, praises the […]
Read MoreCitizens Advice publishes report on how poor debt advice is pulling people into inappropriate IVAs
Citizens Advice’s latest report entitled ‘Back to Square One’ explores how poor debt advice is pulling people into inappropriate Individual Voluntary Arrangements (IVAs). It says: “IVAs are a type of fee-charging debt solution, widely marketed to people with unmanageable debts. Whilst in some circumstances an IVA will be the most appropriate debt solution for someone’s […]
Read MoreOfgem consultation: Resetting the energy debt landscape – the case for a debt relief scheme
Energy sector regulator Ofgem is running a consultation on its consideration to introduce a debt relief scheme to provide financial support to energy customers who accrued debt on energy bills during the energy crisis and may struggle to repay. The aim of such a scheme would be to bring down the record level of consumer […]
Read MoreFCA and FOS Call for Input on Modernising the Redress System closing 30 January 2025
The Financial Conduct Authority (FCA) and the Financial Ombudsman Service (FOS) want to seek views from stakeholders on how to modernise the redress framework, so it better serves consumers and provides greater stability for firms to invest and innovate. The current redress framework works well for individual customer complaints about specific issues. However, challenges can […]
Read MoreMoney and Pensions Service-funded debt advice impact report 2023/24 published
The Money and Pensions Service (MaPS) funded debt advice impact report is its first publication dedicated to detailing the work and impact of MaPS-funded debt advice services. This report is MaPS’ response to feedback received during the consultation exercise it carried out in early 2024. In this, stakeholders encouraged MaPS to do more to clarify […]
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