Credit, Collections & Insolvency News
The Financial Conduct Authority (FCA) has required firms to amend or remove 8,582 promotions during 2022. The amendments were 14 times more than 2021. The FCA has also published over 1,800 alerts to help prevent consumers from losing their money to scams. Social media remains a major focus for the regulator’s work in combatting misleading…
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The Bank of England (BoE) has upped the base rate by 50 basis points to 4%, marking the tenth consecutive increase. This hike, the tenth time Threadneedle Street has done this in a row. The 0.5% increase is the second consecutive rise of that magnitude, but still less than the 0.75% rise recorded in early…
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The Bank of England has increased the base rate by 50 basis points to 4%, marking the tenth consecutive increase. The bank rate has continued to increase since December 2021, when it stood at just 0.25%. Commenting on the rise Richard Lane, Director of External Affairs & Operating Subsidiaries at StepChange Debt Charity, said “The…
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Around 2.3 million households missed an essential payment in January, an increase of 400,000 on the month before, but similar to previous years according to new research by Which. The research found that 2.3 million households missed or defaulted on at least one mortgage, rent, loan, credit card or bill in January 2023. This marks…
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The annual bill for an average household in England and Wales will hit £448, industry body Water UK has said. The 7.5% increase means customers will mean that bills will rise by an average of £31 to £448 a year. It has also been announced that support for low-income households will also be increased to…
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