Financial Ombudsman Service: Dealing with Debt
The Financial Ombudsman Service has we published their latest edition of Ombudsman news showing the current issues they’re seeing involving debt and debt collection practices as well as their latest complaints data over the last quarter. This time of year can be bleak. With turkey and twinkling lights a distant memory, it’s back to reality. Many […]
Read MoreCitizens Advice publish research on bailiff complaints
Citizens Advice has published research on bailiff complaints which shows that 72% of people who experience a bailiff breaking the rules do not complain at all. The report highlights that there are significant barriers to making complaints and, when people do, the process doesn’t work: The complaints process isn’t independent and bailiff firms are seen to shift […]
Read MoreBarclays announce gambling blocks
Barclays has become the first High Street bank to allow its customers to “switch off” certain types of spending on their debit cards. The idea is to help vulnerable customers, particularly problem gamblers, or those in serious debt. However, all account holders can now block their own spending in a number of categories, including supermarkets, […]
Read MoreReview of enforcement agent (bailiff) reforms: call for evidence
This call for evidence asks about people’s experiences of the 2014 reforms which regulate how enforcement agents (bailiffs) operate. The government is conducting the second post-implementation review of regulations which were introduced in 2014 to regulate the operation of enforcement agents and the fees that they charge. The reforms implemented provisions in the Tribunals, Courts […]
Read MoreFCA proposes introduction of price cap on rent-to-own firms to protect vulnerable consumers from high costs
The FCA estimate the introduction of price cap on rent-to-own firms to protect vulnerable consumers will save consumers £19.6m-22.7m per year without significantly reducing access to credit for people who have few alternative options. This paper sets out the proposed price cap on the rent-to-own market, summarises feedback to CP18/12 on the questions asked about […]
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