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…

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…

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…

Ofgem has appointed Mary Starks as executive director of the Consumers and Markets directorate. Starks will oversee Ofgem’s work to protect consumers’ interests in the retail and wholesale energy markets, including putting in place a price cap for all those on poor value defaults deals. Starks is currently the director of competition and chief economist…

SSE has agreed to pay £1 million to Ofgem’s consumer redress fund after providing some pre-payment meter (PPM) customers with inaccurate and misleading information in annual statements. Ofgem launched an investigation into the supplier in November last year after SSE reported the issue to the regulator. The investigation found that, between June 2014 and September…

Following the Financial Conduct Authority (FCA) announcement on reform rent to own and overdraft reforms, industry figures have reacted on the news. Eric Leenders, Managing Director, Personal Finance at UK Finance said “People up and down the country use credit as a helpful means of managing their everyday spending, so we have been working closely…

Ofgem has launched an investigation into the way that Utility Warehouse manages its customers who are in debt. Ofgem will investigate whether the supplier has breached rules related to the way it manages these customers, particularly whether it puts in place appropriate repayment options for its indebted customers. This includes whether it does enough to…

SSE’s has announced that it will increase its energy prices by 6.7%. The price rise will affect 2.36m customers. Commenting on the news Gillian Guy, Chief Executive at Citizens Advice, said “It’s extremely disheartening to see SSE join the rest of the ‘big six’ energy suppliers in raising prices for its standard variable customers. Today’s price…

Latest figures from the Financial Ombudsman (FOS) show that complaints about borrowing – ranging from store cards to payday loans – have risen by 40% in the past year. Concerns have been raised about lenders’ treatment of customers with high-cost loans. Excluding complaints about payment protection insurance, almost one in four complaints to the ombudsman…

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