The Money Advice Trust,  has welcomed the Chancellor’s announcement of the new Job Support Scheme, extended Self-employment Income Support scheme, and additional support for small businesses impacted by Covid-19. Joanna Elson OBE, Chief Executive of the Money Advice Trust, said “The Chancellor’s Job Support Scheme is another bold move to support people whose incomes have…

The Public Sector is failing debtors, especially the most vulnerable, and needs to urgently learn the lessons from the private sector according to the Chartered Institute of Credit Management (CICM). The concept of ‘vulnerability’ is also too vague, and as such many of those most in need of help are falling between the cracks. The…

TotallyMoney has warned that consumers could be unwittingly losing hundreds of pounds by using certain financial products against their advantage. The company’s research has revealed that the majority of consumers (53%) have an outstanding debt on a credit card but no 0% promotional offer, meaning they could be paying an average interest rate of 20.77%…

Ninety-three percent of consumers are struggling to afford essentials after Government collection measures according to research by debt charity StepChange. The report has found that fundamental and specific improvements are needed for ‘deeply flawed’ government debt collection practices,. The deadline for responses to the Cabinet Office on Government debt collection practices sees StepChange Debt Charity…

Research from Indesser, a joint debt management venture between the Cabinet Office and TDX Group, shows 39% of people’s finances have been negatively affected by the COVID-19 pandemic, with Generation Zers feeling the sharpest impact (44%). The survey reveals the toll of the pandemic on people’s sense of financial stability, with 43% admitting they worry…

Latest research from global information and insights provider TransUnion has suggested that consumers who have weathered the initial shock of COVID-19 are feeling more financially stable, but those experiencing financial difficulties face some challenging months ahead.  In its latest report, which marks almost six months since UK lockdown and social distancing measures were first imposed,…

Unemployment rose sharply even before the start of the winding down of the Coronavirus Job Retention Scheme (JRS) from August, with young people at the centre of Britain’s mounting jobs crisis, the Resolution Foundation said in response to the latest ONS data. The headline unemployment picked up in the three months to July – from…

The Financial Conduct Authority (FCA) has announced proposals to ensure that firms provide tailored support for users of consumer credit and overdraft products who continue to face payment difficulties due to coronavirus (Covid-19). The proposals will cover users of credit cards and other revolving credit (store card and catalogue credit), personal loans, overdrafts, motor finance,…

The Insolvency Service has published its latest figures which indicates that in August personal insolvencies in England and Wales fell to 6,359 in total when compared to last month’s figure of 7,330 and are significantly lower than August 2019’s figure (8,892). There were 1,332 debt relief orders and 769 bankruptcies in August 2020. There was…

Accountant in Bankruptcy has published its latest figures which indicate that there were 549 personal insolvencies (bankruptcies and protected trust deeds (PTDs)) in August 2020, 628 (53.4%) fewer than in August 2019. Bankruptcy numbers decreased by 47.6% in August 2020 when compared with August 2019. Whilst PTDs decreased by 56.7% over the same period.  There…

1 2 3 94