Launch date of the Standard Financial Statement confirmed
The Money Advice Service has announced that the Standard Financial Statement (SFS) begins operation on 1 March 2017 and thanked the many advice agencies, creditors, trade bodies and others involved in its development, including the MALG members who were part of the governance group. The first advice providers will begin using the new SFS format […]
Read MoreCitizens Advice publishes Doorstep Loan report
Citizens Advice has published a report entitled ‘Debt on your doorstep’ looking into the doorstep loan market, which is the largest high-cost credit market in the UK used by over 1.3m customers. It identifies common problems experienced by their clients with unmanageable doorstep loans such as high-pressure sales tactics, inadequate affordability checks and aggressive collections […]
Read MoreWhich? reports bank overdraft charges are higher than payday lenders
Research published today by Which? has highlighted that customers accessing unauthorised overdrafts can face charges seven times higher than the cost of borrowing from a payday lender. The report also found that it’s often the most vulnerable customers that are hit the hardest. Read Rachel Reeves MP’s summary of the findings here.
Read MoreRoyal London study into impact of regular monitoring on household spending and saving
Royal London has published a new report ‘Looking after the pennies’. It is a study of the impact of regular monitoring on household spending and saving, which looks at whether budgeting tools could help people manage their money better. 19 million people in the UK don’t have an approach to budgeting they feel works and […]
Read MoreAdvice Services Alliance Launches Key Advice Quality Standard
The Advice Services Alliance (ASA) launched a new revised Advice Quality Standard, at an important Parliamentary event chaired by Yvonne Fovargue MP today. The new Advice Quality Standard builds on the increasingly high standards in the sector in advising clients on how to use the law to challenge decisions made against them and to ensure […]
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