Credit, Collections & Insolvency News
Citizens Advice is sounding the alarm on the impact of a cut to Universal Credit with MPs expected to debate ending the £20-a-week increase today (Wednesday 15 September). Previous research from the charity shows that 2.3 million people receiving Universal Credit will be pushed into the red by the cut. It warnspeople are one and…
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The Covid-19 pandemic has sparked a surge in people over 50 seeking professional financial advice, according to new research from Scottish Widows. Almost half (46%) of Independent Financial Advisors (IFAs) in the UK have reported an increase in the number of over 50s reaching out to them for help over the last 18 months. Some…
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Almost a third of families with children at home (32%) are struggling to pay down debt which has accrued since the first UK lockdown began in March 2020, compared to just 16% of households without children, according to the latest Household Financial Confidence Tracker from comparethemarket.com. Excluding mortgage repayments, UK households say that their debt…
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Although securing fair outcomes for vulnerable customers has long been a concern both the FCA’s and Ofcom, it has taken a global pandemic to really place it on the agenda of most unregulated businesses which are customer-facing. This includes the debt collection and credit management industry, which although often touching customers when they are at…
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The industry-supported Contingent Reimbursement Model Code seeks to ensure better customer outcomes are at the centre of the fight against Authorised Push Payment fraud. As the regulatory oversight body of the Code, we examine the impact the voluntary Code has had to date, what needs to happen next and why its protections are here to…
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