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 MoreBob’s Blog: MALG is looking for a new Secretary
Following the announcement of our 2017 conference date and venue, we have some sadder news. MALG’s secretary Maria Wadsworth, who has been supporting the organisation in this capacity for the past 12 months, is planning to set sail (quite literally!) and will be leaving us in April. I’m sure all of you who have dealt […]
Read MoreRecognising Problem Gambling and what to do about it – practical tips for money advisers
Dr Jane Rigbye, Director of Commissioning, Treatment and Harm Minimisation at GambleAware, spoke at the MALG Members Meeting last month (January 2017), offering practical tips on what money advisers can do to recognise and help deal with problem gambling. Here is a summary of what she presented: The vast majority of MALG members will have […]
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