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....It is a situation that worries experts of all stripes – from Jane Tully, a senior director at the Money Advice Trust, the charity that runs National Debtline, to former Bank of England official Kate Barker, who was a member of the Bank’s interest rate-setting committee during the last crash. Tully said: “We have already seen an 8% rise in the number of people helped by National Debtline by telephone this year, and all the signs are that demand for debt advice will continue to increase. ... [Read full article on Guardian ]
Saturday 1st of July 2017 03:00:02 PM
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....The debt charity StepChange says store cards are a persistent issue, with around one in eight people who call it for help having problems, usually with debts of around £1,000. “Most consumers are not focusing on the APR, and I think the attraction of offers, of discounts, of being able to spread payments – that is at the forefront of someone’s mind when they are making that decision, not the total cost of credit,” says debt advice co-ordinator Michael Agboh-Davison. ... [Read full article on Guardian ]
Saturday 8th of July 2017 05:59:00 AM
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Latest Finance News related to Debt Advice

Beware ‘the devil’s debt’ – that tempting store card offered at the tills image
....The debt charity StepChange says store cards are a persistent issue, with around one in eight people who call it for help having problems, usually with debts of around £1,000. “Most consumers are not focusing on the APR, and I think the attraction of offers, of discounts, of being able to spread payments – that is at the forefront of someone’s mind when they are making that decision, not the total cost of credit,” says debt advice co-ordinator Michael Agboh-Davison. ...
Can the Bank get Britain to kick its cheap credit habit? image
Source : Guardian [Read Article] Saturday 1st of July 2017 03:00:02 PM
....It is a situation that worries experts of all stripes – from Jane Tully, a senior director at the Money Advice Trust, the charity that runs National Debtline, to former Bank of England official Kate Barker, who was a member of the Bank’s interest rate-setting committee during the last crash. Tully said: “We have already seen an 8% rise in the number of people helped by National Debtline by telephone this year, and all the signs are that demand for debt advice will continue to increase. ...
Election 2017: What now for your finances? image
Source : BBC [Read Article] Friday 9th of June 2017 09:06:04 AM
.... A starting date should also be given for a ban on lettings agent fees, cutting upfront costs for those looking to rent a home. People facing serious debts should get a legal right to "breathing space", mirroring the Scottish system in which borrowers can apply to have six weeks free from further interest, charges or debt collection to get debt advice and set up a repayment plan. ...
‘There is significant risk’ UK facing debt bubble as Britons borrow another £1.6BILLION image
....“At National Debtline we have already experienced our busiest first quarter in years and are preparing ourselves to potentially help a far greater number of individuals depending on what lies ahead. "Anyone already having difficulty with their budget should seek free debt advice as early as possible from a charity-run service such as National Debtline. ...
Personal insolvencies soar to highest level in three years image
Source : Guardian [Read Article] Friday 28th of April 2017 02:34:07 PM
....Joanna Elson, the chief executive of the Money Advice Trust, the charity that runs National Debtline, said the insolvency figures were concerning. “Growing levels of household debt and extra pressure on budgets from inflation are a worry, and we expect this to translate into greater demand for free debt advice over the rest of 2017,” she said. ...
Bailiff industry still problematic, say charities image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:00:16 AM
.... In most cases court action is required before bailiffs can be used. Joanna Elson, chief executive of the MAT, the charity that runs National Debtline, said: “Concerns over the impact of the bailiff’s knock at the door have long been raised by debt advice charities, based on the experiences of our clients week in, week out. ...
Some bailiffs 'still abusing powers', debt charities say image
Source : BBC [Read Article] Tuesday 14th of March 2017 12:03:59 AM
. Some bailiffs are still abusing their powers when trying to recover debts, despite changes to the law three years ago, say debt advice charities. ...
British Gas told to pay £9.5m in compensation for late and incorrect bills image
....Apologising to those affected on Tuesday, the energy supplier agreed to pay £9. 5m in compensation to its customers and to the Money Advice Trust, a charity that runs a debt advice line for businesses. ...
Government criticises 'inefficient' debt and pensions advice bodies image
Source : Guardian [Read Article] Monday 19th of December 2016 05:30:19 PM
....This new body will replace three existing publicly-funded organisations, one of which came under fire for spending more than £100m on marketing and advertising in an attempt to increase brand awareness. The Treasury said the new system would make it easier for consumers to get the financial help they needed at a time when demand for debt advice was increasing and millions of people had more choices about what to do with their retirement cash. ...
Warning as household debts rise to top £1.5 trillion image
Source : BBC [Read Article] Monday 7th of November 2016 12:49:06 AM
....The charity pinpoints rising house prices, low levels of savings and the normalisation of debts as reasons for high levels of indebtedness. Those concerned about debt are urged to seek advice from impartial charities such as StepChange, Citizens Advice, Pay Plan, Christians Against Poverty or check the Money Advice Service debt advice locator. ...
Debts 'affect children's mental health' image
Source : BBC [Read Article] Thursday 22nd of September 2016 12:39:44 PM
....They were at greater risk of having poor mental health than those in debt-free homes, the charity said. The government said free debt advice was aimed at helping those in need. ...
Debt woes 'weigh heavily' on young people, survey finds image
Source : BBC [Read Article] Monday 29th of August 2016 11:00:11 PM
....10. Get free debt advice if you need it from National Debtline or 0808 808 4000. ...
Put it on the plastic: Barclaycard, the UK's first credit card, turns 50 image
Source : Guardian [Read Article] Wednesday 29th of June 2016 04:58:36 PM
.... The debt charity StepChange said credit cards were now the most common type of debt seen by its advisers. “The average credit card debt we see is now at £8,403, about half our clients’ average annual take-home pay, and there is a clear need for change,” said the charity, which provides free and independent debt advice. ...
Record numbers of people in council tax arrears, say charities image
Source : Guardian [Read Article] Tuesday 3rd of May 2016 11:01:11 PM
....”. The charities are calling for a statutory “breathing space” scheme that guarantees those seeking debt advice a temporary freeze on interest and charges, and a halt to enforcement action in order to help a person recover their financial situation. ...
HISTORY REPEATING? Fears of ANOTHER financial crisis as borrowing reaches 11-year high image
.... Peter Tutton, head of policy at StepChange debt charity, said: "Consumer credit has again risen rapidly and this is an area of growing concern. "Slow wage growth and the rise in insecure jobs have left millions of households financially vulnerable and we have already seen an increase in the number of people coming to us for debt advice in 2016. ...
Consumer credit rises at fastest pace for 11 years image
Source : Guardian [Read Article] Friday 29th of April 2016 11:50:27 AM
....3% in the first three months of the year, with 20,383 people in England and Wales declared insolvent. Peter Tutton, the head of policy at StepChange, said: “Slow wage growth and the rise in insecure jobs have left millions of households financially vulnerable and we have already seen an increase in the number of people coming to us for debt advice in 2016. ...
Single parents increasingly struggling with debt, says charity image
Source : Guardian [Read Article] Monday 4th of April 2016 11:24:33 AM
....In total, single parents contacting the charity during 2015 had an average debt in excess of £10,000 . More than 60,000 single parents approached the charity for debt advice last year. ...
Let's be rid of these debt advice rogues image
Source : Independent [Read Article] Wednesday 23rd of March 2016 03:09:00 PM
...
Related to :
Money Advice Service to be abolished image
Source : BBC [Read Article] Wednesday 16th of March 2016 10:34:49 AM
. The Money Advice Service (MAS), which has provided financial and debt advice to consumers since 2010, is to be abolished, the chancellor has confirmed. ...
More than 8m UK adults have ‘problem debt’ image
Source : Guardian [Read Article] Saturday 12th of March 2016 07:00:10 AM
.... Among 25- to 34-year-olds, one in four live with debt problems. Caroline Siarkiewicz, head of debt advice at the MAS, said: “We know that debt advice works, but currently only one in five people with financial difficulties seek it. ...
Welcome to the bank where financial advice is free – it’s a food bank image
Source : Guardian [Read Article] Saturday 30th of January 2016 07:00:18 AM
....However, while there are certainly plenty of takers for the tinned food and dried goods being handed out by volunteers – plus a hot drink, slice of cake and a chat for those who want it – arguably the person most rushed off his feet is the chap sitting behind a desk in a screened-off corner of the room. This is Kiril Moskovchuk, a Citizens Advice adviser who is specifically funded by the local council to provide financial help and debt advice to users of this food bank. ...
Cash calendar image
Source : BBC [Read Article] Wednesday 13th of January 2016 12:29:09 AM
.... Use a budget planner or this January toolkit to work out how much you could afford to start paying back each month. If you are struggling with your finances, it is important to seek free debt advice as soon as possible. ...
HMRC debt collectors blasted for 'treating people worse' than private companies image
...."It’s unacceptable that government agencies are behind the standards set for private companies when recovering debt. "National government, private firms, utility providers and debt advice specialists need to get together and urgently agree a fair and consistent way forward. ...
Six ways to stop the Christmas spend, spend, spend image
Source : Guardian [Read Article] Wednesday 9th of December 2015 06:48:18 AM
.... “There is a huge cultural pressure to spend during the festive period,” says Peter Tutton, head of policy at the debt charity StepChange. Last January, nearly 60,000 people contacted the organisation for debt advice. ...
Worries over credit card Britain - How to clear debts  image
Source : Daily Express [Read Article] Tuesday 3rd of November 2015 11:54:00 AM
....”. Critics said more customers should be pointed in the direction of free debt advice such as that offered by the government-funded National Debtline. ...
Concerns over 'persistent' card debt image
Source : BBC [Read Article] Tuesday 3rd of November 2015 10:32:49 AM
.... . "As the report highlights, credit card companies usually intervene effectively to help customers who begin to miss payments, and many work closely with debt advice charities to make sure customers get the free advice they need. ...
Personal insolvencies up for first time in a year image
Source : Guardian [Read Article] Thursday 29th of October 2015 01:58:37 PM
.... “Insolvency figures don’t reflect the full extent of problem debt. More than 600,000 people contacted us for debt advice last year and insolvency was the right option for just 20% of them,” said its chief executive, Mike O’Connor. ...
Summer rise in personal insolvency image
Source : BBC [Read Article] Thursday 29th of October 2015 10:13:42 AM
....Mike O'Connor, chief executive of the StepChange debt charity, said: "It is important to remember that insolvency figures do not reflect the full extent of problem debt. More than 600,000 people contacted us for debt advice last year and insolvency was the right option for just 20% of them. ...
Credit crisis after husband’s death  image
Source : Telegraph [Read Article] Tuesday 29th of September 2015 09:10:57 AM
.... . Get free debt advice from the local Citizens Advice Bureau, the Money Advice Service (0300 500 5000; moneyadviceservice. ...
Brits lured even deeper into debt by low rates image
Source : Daily Express [Read Article] Sunday 13th of September 2015 12:01:00 AM
....”. Caroline Siarkiewicz, head of UK debt advice at the Money Advice Service, urges borrowers to draw up a budget for their monthly spending and work out how they would meet any increase in debt repayments: “If you are thinking of borrowing more, consider whether your repayments would be affordable if rates rise. ...
Problem debt: number of households affected rises by a quarter image
Source : Guardian [Read Article] Monday 7th of September 2015 11:01:03 PM
....”. The debt advice charity StepChange said it had seen a 56% leap in the number of people seeking help with serious debt problems between 2012 and 2014, and that the average unsecured debt among those approaching it was now £15,000. ...
Bailiffs 'sent in more than 2m times' image
Source : BBC [Read Article] Thursday 27th of August 2015 09:47:15 AM
...."Something is seriously wrong here," said Joanna Elson, the chief executive of the MAT. "On the front line of debt advice we know that sending the bailiffs in can deepen debt problems, rather than solve them - and it can also have a severe impact on the wellbeing of people who are often already in a vulnerable situation. ...
Source : Independent [Read Article] Friday 14th of August 2015 09:00:00 PM
....Known as Sheffield Money, the new lender operates from a shop and offers local residents loans of up to £7,500. But it's a not-for-profit broker business that brings together responsible lenders as well as independent money and debt advice. ...
Sheffield sets example for all to follow when it comes to dealing with unscrupulous lenders image
....Known as Sheffield Money, the new lender operates from a shop and offers local residents loans of up to £7,500. But it’s a not-for-profit broker business that brings together responsible lenders as well as independent money and debt advice. ...
City council takes the battle to payday lenders – by offering loans of its own image
.... Five Lamps says it has to decline around half of all applicants, when it becomes clear from a credit search that the person doesn’t have the means to repay. Sheffield Money will help people who are rejected by offering a debt advice service. ...
Observer Ethical Awards 2015 winners: Plymouth Energy Community image
Source : Guardian [Read Article] Thursday 2nd of July 2015 09:00:04 PM
....“Our volunteer-training programme means we now have a whole team that goes out to people’s houses to give advice on how to become more energy efficient,” says Knowles. PEC offers grants for home insulation, accessible information on switching energy providers and a free fuel debt advice service, in partnership with various other organisations. ...
FCA condemns debt managers for deepening distress of borrowers image
Source : Independent [Read Article] Friday 26th of June 2015 12:12:26 AM
....The watchdog said the quality of the advice provided by some fee-charging debt-management firms was unacceptably low. For instance, they are supposed to inform vulnerable people about the availability of free debt advice, but one told a customer that these advisers are “owned by the banks” and the customer would have “to do all the work”. ...
Debt management firms slammed by FCA image
Source : Guardian [Read Article] Thursday 25th of June 2015 09:24:08 AM
.... These either related to the debt solutions offered, cross-selling additional products such as payment protection insurance (PPI) – or both. The Money Advice Service, one of a number of organisations alongside Citizen’s Advice, StepChange and National Debtline to give free debt advice, said that the FCA’s findings were disturbing. ...
Debt plan firms 'failing vulnerable' image
Source : BBC [Read Article] Thursday 25th of June 2015 09:13:32 AM
....Free help is available from Citizens Advice, National Debtline and other charities, although some fee-charging firms are not making this clear to customers, according to the FCA. Lesley Robinson, UK debt advice director for the Money Advice Service, said: "This review's findings are clearly disturbing and present a challenge to the debt management sector. ...
Debt managers are misleading vulnerable people, warns watchdog image
Source : Independent [Read Article] Thursday 25th of June 2015 07:01:34 AM
.... The FCA is also planning to assess the level of fees charged by fee-charging debt management firms. Joanna Elson, chief executive of the Money Advice Trust, the charity that runs National Debtline, said: "The FCA’s report confirms what those of us on the front line of free debt advice have long known – that many fee-charging debt management companies are failing to give the right advice and making bad debt problems worse. ...
Credit cards: fury as pensioner, 95, runs up debts totalling £80,000 image
Source : Guardian [Read Article] Saturday 6th of June 2015 06:00:13 AM
....Burden says the card with the highest outstanding debt – more than £10,000 – is a Barclaycard, and that the Co-operative Bank’s debt collectors were among the most forceful. A spokeswoman for debt advice charity StepChange says that throughout the late 1990s and 2000s, large multiple credit card debts were a notable feature of serious debt problems, and despite card data being shared between lenders, it was not always being used to ensure responsible lending. ...
.... Two-thirds have still been threatened with court action, and half with bailiffs. Meanwhile only a quarter were offered an affordable payment option and just one in 10 were encouraged to get debt advice. ...
Growing number of women under the age of 35 are turning to online gambling image
Source : Independent [Read Article] Friday 13th of March 2015 09:00:00 PM
....Statistics from the Gambling Commission show that people aged 16 to 24 are twice as likely to be "at risk" of problem gambling as the population overall – with 7 per cent of young men and 2 per cent of young women falling into this category. Christians Against Poverty, a debt advice charity, is one of several groups concerned about the role of habit in damaging household finances and stability – and it has set up a pilot group to help people who want to break habits such as gambling, overspending and overeating. ...
Weekly Money image
Source : Independent [Read Article] Friday 13th of March 2015 10:15:51 AM
....The City Watchdog yesterday accused payday lenders of unfair practices, particularly when dealing with people in debt. The Financial Conduct Authority’s thematic review marking a year of its regulation of the high-cost credit sector revealed “unacceptable practices from many lenders, including failures to recognise customers in financial difficulty, failure to direct people to free debt advice and firms offering inflexible repayment options”. ...
People in debt need help, not council bullies image
Source : Independent [Read Article] Wednesday 11th of March 2015 11:40:31 AM
....Even when people tried to talk to their council about their debt problems, they faced tough action. Two-thirds were still been threatened with court action, half were threatened with bailiffs; while only a quarter were offered an affordable payment option and only one in 10 were encouraged to get debt advice. ...
Source : Independent [Read Article] Wednesday 11th of March 2015 01:28:47 AM
.... . The Financial Conduct Authority’s thematic review marking a year of its regulation of the high-cost credit sector revealed “unacceptable practices from many lenders, including failures to recognise customers in financial difficulty, failure to direct people to free debt advice and firms offering inflexible repayment options”. ...
Money roundup: MPs warn on pension scams and watchdog slams payday lenders image
Source : Independent [Read Article] Tuesday 10th of March 2015 01:43:20 PM
....The City Watchdog this morning accused payday lenders of unfair practices, particularly when dealing with people in debt. The Financial Conduct Authority’s thematic review marking a year of its regulation of the high-cost credit sector revealed “unacceptable practices from many lenders, including failures to recognise customers in financial difficulty, failure to direct people to free debt advice and firms offering inflexible repayment options”. ...
Payday lenders accused of unfair practices by watchdog image
Source : Independent [Read Article] Tuesday 10th of March 2015 09:03:05 AM
.... . The Financial Conduct Authority’s thematic review marking a year of its regulation of the high-cost credit sector revealed “unacceptable practices from many lenders, including failures to recognise customers in financial difficulty, failure to direct people to free debt advice and firms offering inflexible repayment options”. ...
Substandard payday lenders face closure, says British watchdog image
Source : Reuters [Read Article] Tuesday 10th of March 2015 07:20:19 AM
....The Financial Conduct Authority (FCA) said it had completed a year-long review of the market that offers short-term loans to tide over borrowers until they are paid and has been criticised by lawmakers and the Church of England for causing misery among customers on low salaries. "We found unacceptable practices from many lenders, including failure to recognise customers in financial difficulty; failure to direct people to free debt advice; and firms offering inflexible repayment options," the FCA said. ...
Universal credit 'a nightmare', says claimant who advertised welfare reform image
....". The DWP spokesman added: "People can apply for advanced benefit payments if they need extra support and we are working with local authorities to make sure people get budgeting and debt advice. ...
Are bills ruining your family life? Try the lover's guide to coping with debt... image
.... And one in five couples (21 per cent) said debt led to relationship breakdown. The good news is that there are free debt advice centres around the country that can help couples assess the level of their debts and be open with each other. ...
Source : Independent [Read Article] Friday 6th of February 2015 09:00:00 PM
.... But only 14 out of 18 will have them in place by April, The other companies say they either intend to have social tariffs in place in 2016 or are currently consulting their customers about introducing a tariff scheme. Other measures to help the hard-up include write-off schemes, debt advice and water efficiency measures to help customers on meters reduce their bills. ...
Source : Independent [Read Article] Saturday 31st of January 2015 12:00:00 AM
....For instance, the team often refer people to the British Gas Energy Trust, which makes grants to people in energy debt. In fact it has handed out £75m in the past 10 years, helping 120,000 people in the process with grants and debt advice. ...
Personal insolvencies fall to lowest level for 10 years image
Source : BBC [Read Article] Thursday 29th of January 2015 11:29:36 AM
....But Joanna Elson, chief executive of the Money Advice Trust, said many people were still suffering financial strain. "While it is really welcome to see insolvencies reach their lowest level in nearly a decade, on the debt advice front line we know that more and more people are falling into difficulty with smaller debts from everyday household bills," she said. ...
Simon Read: Information is power. And it's in the wrong hands when people are cold-called by companies that know they're in debt image
.... That was when I clicked on the Manchester-based firm's debt page. There I saw that the company promises a list of "10,000 individuals all in considerable debt and looking for debt advice". ...
London's first 'social supermarket' opens to help fight food poverty image
Source : Telegraph [Read Article] Monday 15th of December 2014 06:00:50 AM
.... . The money made from the store will be put back into the community to fund support services for members including CV-writing workshops, job interview practice, debt advice, and cooking classes. ...
Fee-free basic bank accounts agreed in Treasury deal image
Source : BBC [Read Article] Monday 15th of December 2014 12:01:32 AM
...."However, signs of financial difficulty should not be ignored. We would urge banks and those across the credit sector to do more to recognise when people are falling behind on their essential bills and credit commitments, and signpost them to free independent debt advice as early as possible. ...
How to cut the cost of festivities without looking like a Scrooge image
Source : Daily Express [Read Article] Sunday 14th of December 2014 02:17:00 PM
. Worrying new findings from a debt advice charity reveal that a third of Brits are borrowing money to pay for presents this year, while one in five are taking on credit to pay for food. ...
Want a pension? Tell us if you've had advice image
Source : Telegraph [Read Article] Friday 28th of November 2014 02:20:48 PM
.... . The standards for guidance set out by the FCA also say that guidance providers must ensure that personnel have knowledge of different types of pension schemes, the tax treatment of pensions, the impact of fees and charges on products, circumstances where a consumer might need more specialist help including debt advice and regulated advice and that they are aware of other issues that could be relevant such as long-term care needs and life expectancy. ...
'Scottish Power sent bailiffs for unpaid bills because they were posted to a neighbour' image
.... The upshot is that the occupants of apartment 11 didn't forward the bills on for ages. This resulted in a bailiff turning up at my door and a charge of £22 appearing on my bill as "debt advice", which I refused to pay, especially as the bailiff banged constantly on my door for nearly half an hour, shone a torch under it and shouted: "I am not going until you answer the door. ...
Simon Read: The only place for debt is out in the open, don't be afraid to ask for advice image
.... “The memory sends shivers down my spine now but at the time I just thought to myself, what can I do to pay off the debt?”. He knew he needed to get help so he turned to the internet to look for debt advice. ...
Worries for those denied payday loans image
Source : BBC [Read Article] Wednesday 22nd of October 2014 10:48:44 AM
...."People should not be given payday loans they have no chance of repaying. Anyone who is turned down for a payday loan should be pointed towards free, impartial debt advice to help them address their money problems," said Gillian Guy, chief executive of Citizens Advice. ...
Charges related to car parking rising dramatically and leading to serious money woes image
.... The London Borough of Barnet applies this system, charging full penalties of between £60 and £110 for parking misdemeanours and £130 for bus lane contraventions. Receiving a so-called Penalty Charge Notice (PCN) for parking presents particular problems, says an adviser for CAP, the charity Christians Against Poverty which offers free debt advice. ...
Source : Independent [Read Article] Friday 10th of October 2014 05:20:00 PM
....The Money Advice Trust wants the criteria for people using the orders to be widened to kick-off a government probe. “The kind of debt problems we are seeing on the frontline of debt advice is changing dramatically – and officialdom needs to keep up,” said Ms Elson. ...
Related to :
Problem debt costs the UK economy £8.3bn, charity warns image
Source : BBC [Read Article] Wednesday 8th of October 2014 01:08:55 AM
.... . He said the Money Advice Service was funding and co-ordinating a range of debt advice services and that the Financial Conduct Authority had been given "robust powers" to protect people using debt management firms. ...
Wonga crisis: Payday lenders forced to shut up shop image
Source : Independent [Read Article] Saturday 4th of October 2014 11:00:00 PM
....But there are calls for those who oversaw the firms, which flourished in the financial crisis as cash-strapped borrowers turned to them for instant funds, to be held to account. Mike O'Connor, chief executive of StepChange Debt Charity, which gives free debt advice, said that as it was the rules that were flawed "it's very difficult to prosecute people for behaving within the law. ...
Wonga's £220m debt write-off: reaction in full image
Source : Guardian [Read Article] Thursday 2nd of October 2014 11:16:25 AM
....These moves are a welcome step in the right direction. Nevertheless we know that there will remain a large number of borrowers with payday loans who are struggling to cope with their debts, and it is essential that these customers are signposted to free debt advice. ...
Debt problems: How you can nip your money problems in the bud and sleep easy at night image
.... In my experience, family members are keen to help rather than  judge, and their support can be crucial in getting your money back under control. You can get free debt advice and help from the StepChange debt charity by calling 0800 138 1111 or going to stepchange. ...
Runaway debt: It's the new norm for university students now image
Source : Independent [Read Article] Friday 26th of September 2014 05:00:00 PM
.... Students like Jake Askew, a student at Sheffield University in Sheffield, South Yorkshire are feeling the pinch (Lorne Campbell / Guzelian) Both StepChange and the Debt Advice Foundation offer help in creating budgets and an action plan to slim down debt. Most universities and colleges now offer some form of face-to-face debt advice service as well as an out-of-hours phoneline, thanks to the Association of Student Money Advisers. ...
Bankruptcy among pensioners is on the rise - why? image
Source : Telegraph [Read Article] Monday 1st of September 2014 08:18:14 AM
...." . A spokesman at debt advice charity StepChange said pensioners in excessive debt could consider options other than bankruptcy. ...
Financial advice to be dished out at food banks image
Source : Telegraph [Read Article] Wednesday 13th of August 2014 10:41:25 AM
.... . Food bank charity the Trussell Trust is launching a pilot scheme to give instant financial help and debt advice. ...
'Financial triage' to be offered at food banks image
Source : Guardian [Read Article] Tuesday 12th of August 2014 06:00:27 AM
....Through the scheme, advisers from local or national debt charities will be based at the food banks for up to 20 hours a week and will be available to give instant help, with the option of arranging further meetings to help clients. David McAuley, the Trussell Trust's chief executive, said: "By introducing a 'financial triage' service in food banks, where clients are able to connect with free financial and debt advice, people will be given professional help to manage tight finances, avoid payday lenders and structure debt to prevent the situation from getting worse and to help people break out of crisis much faster. ...
Government set to review terms of debt relief orders image
Source : Guardian [Read Article] Saturday 2nd of August 2014 06:00:26 AM
....As part of a shake-up of debt relief measures for the "financially vulnerable" to be announced next week, the Insolvency Service, the government agency which oversees insolvency legislation, will issue a "call for evidence" on how DROs are working. It will be asking charities and others that provide debt advice, as well as those who entered into an order and creditors, whether the rules and eligibility levels need to be changed. ...
Government urged to act to prevent mortgage defaults image
Source : Guardian [Read Article] Wednesday 23rd of July 2014 11:02:00 PM
....". The Resolution Foundation called for a big expansion of free debt advice, which the FCA should fund. ...
'Risk of debt peril' when interest rates rise image
Source : BBC [Read Article] Wednesday 23rd of July 2014 11:00:03 PM
....The Resolution Foundation, which campaigns to improve living standards of those on low and middle incomes, recommended that the Bank of England resisted Bank rate rises until there was clear evidence of a sustainable, broad-based recovery. It also said that households should be given the opportunity to lock into low rate mortgages for a set period in the future, and that there should be debt advice and support for those forced to sell their home or who have their property repossessed. ...
Mortgages: 'Homeowners could trade down to shared ownership to diffuse rate rise timebomb' image
....2 per cent – an extra £2,009 a year. Today’s report, entitled “Hangover Cure”, urges the Financial Conduct Authority (FCA) to force all lenders to make immediate contact with the two million people most vulnerable to a mortgage rate increase and give them free debt advice. ...
Step change needed in dealing with debt image
Source : Guardian [Read Article] Wednesday 23rd of July 2014 05:59:20 PM
.... First, it would set the caps at a level that had a real impact on the price of a payday loan. Second, it would clamp down on the scourge of multiple loans through a real-time database – already suggested by debt advice charity StepChange and others. ...
Payday loans cost cap  the key questions answered image
Source : Guardian [Read Article] Tuesday 15th of July 2014 02:54:52 PM
....The financial watchdog the Financial Conduct Authority (FCA) has unveiled proposals for a cost cap on payday lenders – short-term loan companies such as Wonga and The Money Shop that typically offer borrowing of £100 to £1,000 arranged over days or weeks. The payday loans business has been booming since the financial downturn and debt advice groups have reported increasing numbers of people seeking help with problem borrowing. ...

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