Over a quarter (26%) of consumers have been unable to pay a household bill, as the statement amount was higher than expected, according to a new report. This figure has jumped by 10% since similar research was completed in 2016. Ongoing price hikes across a range of sectors – including gas, electricity and broadband – in…

National Audit Office’s (NAO) report into Universal Credit suggests that the government’s flagship benefits system has been too slow to roll out, causes hardship, and is not delivering value for money. The NAO says the £1.9bn Universal Credit system could end up costing more to administer than the benefits system it is replacing. Some claimants waited…

A new service enabling people to report the death of an individual to several major financial services providers at the same time has been launched. The free, online Death Notification Service is available to anyone who wishes to notify, in a single step, one or more of the member organisations1 that a customer has died. The gateway service…

Here is an overview of The Money Charity’s latest statistics for June 2018: Personal debt in the UK People in the UK owed £1.539 trillion at the end of April 2018. This is up from £1.535 trillion at the end of April 2017– an extra £949.30 per UK adult. Per adult in the UK that’s an average debt of…

New research from Scottish Widows has revealed that more than half (58%) of men in the UK with dependent children have no life insurance, meaning that just over 4.5 million dads are leaving their families in a precarious situation if the unforeseen were to happen.  Worryingly, this has increased by five percentage points compared with 2017,…

Three directors of a debt management company have been banned from running companies for 29 years. Robert Solloway, Mark Harrison and Richard Mott, were all directors of RMR Financial Services Limited, which traded as Compass Debt Counsellors, a debt management company. Robert Solloway served as a director throughout, while Mark Harrison and Richard Mott were…

The Welsh Government has launched a plan to end prison sentences for non-payment of council tax. Regulations will be brought forward in early 2019 to prevent any more people being jailed for council tax debt in Wales, pending the outcome of a 12-week consultation. Unlike other forms of civil debt, courts have the power to…

The Credit Services Association (CSA), the voice of the UK debt collection and debt purchase sectors, has confirmed the full programme for this year’s UK Credit and Collections Conference (UKCCC), including a keynote address by Romana Pearson, Head of Consumer Credit at the Financial Conduct Authority (FCA). The conference is divided into morning and afternoon…

StepChange Debt Charity has announced that Sir Hector Sants will leave to become the first Chair of the new Single Financial Guidance Body. Sants will be stepping down from his role as Chair of the charity on 2nd October to take up the role on 3rd October 2018. Phil Andrew, Chief Executive of StepChange Debt…

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