Cost of living now in top 5 reasons for debt, reports StepChange Debt Charity
January saw the usual seasonal increase in people looking for debt advice, according to the latest client insights report from StepChange Debt Charity. The StepChange website was visited by 358,000 users in January, a 34% rise on December 2021. Between December and January, there was also a 7% increase in visits to the ‘emergency funding’ page (24,000 […]
Read MoreFCA drives changes to Buy Now Pay Later (BNPL) firms’ contract terms
Regulator the Financial Conduct Authority (FCA) has used the Consumer Rights Act 2015 to assess the fairness and transparency of the terms of four firms offering unregulated Buy Now Pay Later (BNPL) products and identified potential harm to consumers. This is in line with its strategy to act as an assertive regulator, by being proactive […]
Read MoreMoney and Pensions Service confirms funding levels for commissioning of debt advice services across England
Money and Pensions Service (MaPS) yesterday provided much-anticipated confirmation of funding levels for commissioning of debt advice services across England. It reads: “In December 2021, we announced changes in the timeline for awarding the contracts for the National Services, Business Debt and DRO Hub Lots, and that we would be implementing short-term grants to protect […]
Read More“Red alert” warning as more turn to Citizens Advice than at any point since pandemic began
More people are seeking one-to-one support from Citizens Advice than at any point during the pandemic according to new figures which reveal the enormous pressures facing households even before major increases to energy bills kick in this April. The charity warns that crisis support – including referrals to food banks and advice on emergency one-off […]
Read MoreOfgem announces energy price cap increase of £693 from April 2022
The energy price cap will increase from 1 April 2022 for approximately 22 million customers, regulator Ofgem has just announced. Those on default tariffs paying by direct debit will see an increase of £693 from £1,277 to £1,971 per year (difference due to rounding). Prepayment customers will see an increase of £708 from £1,309 to […]
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