The UK’s three largest debt charities have called on the Government to instruct local authorities in England and Wales to suspend bailiff action for the duration of the Covid-19 outbreak.  The move comes as Citizens Advice, Money Advice Trust and StepChange Debt Charity report that debt advisers have already begun to receive calls about bailiffs…

The Government has confirmed a £500 million hardship fund will provide council tax relief for vulnerable households. Local Government Secretary Rt Hon Robert Jenrick MP has confirmed the government’s £500 million Hardship Fund will provide council tax relief to vulnerable people and households to help those affected most by coronavirus. The government has set out…

The incomes of self-employed people are ‘falling like a stone’ amidst economic disruption caused by Covid-19, according to charity the Money Advice Trust, which runs the Business Debtline advice service.  The warning comes after Chancellor Rishi Sunak told MPs that constructing a scheme to protect the self-employed who are losing work because of the Coronavirus…

New figures released today by the Finance & Leasing Association (FLA) show that FLA members provided £11.1 billion of new business in January 2020, 2% higher than in the same month in 2019. Growth was driven by the consumer finance sector which reported new business up by 4% compared with January 2019.  It was a…

The latest quarterly Moneyfacts UK Credit Card Trends Treasury Report, which studies the UK personal finance market (unsecured personal loans, credit cards and overdrafts), highlights that average unsecured personal loan rates have increased, with the lower tiers particularly impacted over the last quarter. In the past quarter, tiers to have seen average rates rise include…

The Credit Services Association (CSA) the trade association for the debt collection industry, has made a series of significant changes to its future governance which will see the CSA Board led by a new, independent Chair. The changes mean that those seeking future election to the post of Independent Chair cannot be a current practitioner,…

The Financial Conduct Authority (FCA) has published new guidance for mortgage lenders and administrators and small business lenders. This supports the announcements made by the Chancellor earlier this week. The new mortgage guidance makes clear that firms should grant customers a payment holiday for an initial period of 3 months, where they may experience payment…

Data On Demand has announced the appointment of Mark Davison as its new Non-Executive Chair. Davison was a Board Level Director at Callcredit for over 20 years and was part of the Executive Team that oversaw three major transactions – for values of £100 million, £400 million and £1 billion. Davison exited his role as…

The Vision Blue Group has announced that it has rebranded as The Aryza Group. With a head office in Dublin, Vision Blue will bring together its range of financial services products, under a new brand designed to reflect the breadth of the offering to financial service providers and their customers. Colin Brown, Chief Executive Officer…

HMRC has been urged to immediately pause tax collections to keep businesses liquid. The coronavirus outbreak has created unprecedented uncertainty around the world and now requires unprecedented measures to protect the economy and HMRC should immediately pause tax collections according to Alexander Altmann of Blick Rothenberg. Altman said “Supply and demand are the core principles…

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