Credit, Collections & Insolvency News
Age UK is warning that older people living in a household with an income less than £20,000 per year and not in receipt of means tested benefits, have faced particularly steep challenges with managing through recent times. New research for the Charity revealed that almost a third (29%) of over 60s in this group report…
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Latest statistics from the Ministry of Justice (MoJ) have shown that mortgage and landlord possession actions continued to grow steadily in 2023. The figures showed that mortgage possession claims now sit around 65% of what it was in 2019. The quarterly figures show that mortgage possession actions have continued their gradual upward trend with mortgage…
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Ofgem has published a policy consultation considering a new policy to run alongside the Supplier of Last Resort (SoLR) levy process that could help further protect consumers from costs of future supplier failures calling this the SoLR Levy Offset. Ofgem’s Supplier of Last Resort (SoLR) safety net ensures that when an energy company fails customers…
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The Financial Conduct Authority (FCA) has announced that multiple insurance firms have agreed to pause sales of Guaranteed Asset Protection (GAP) insurance, following a request from the financial regulator. The firms which have agreed to this action account for 80% of the GAP market. THE FCA intervened amid concern that consumers are not getting value for money.…
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