Banks cannot delay tackling transfer fraud a single day longer, according to new research by Which? The research shows that a staggering £674 a minute is lost to this devastating crime. The consumer champion is calling for all banks to urgently reassure their customers that they will be better protected against fraudsters by signing up…
Financial wellbeing is deteriorating at its fastest pace since September 2017 despite a sustained rise in income from employment according to a new report IHS Markit. The report found that household finances were squeezed to the strongest extent since September 201 whilst workplace activity and incomes from employment continue to rise. The outlook towards future…
The average consumer doesn’t begin to worry about their debt until it hits £6,012, a new study has found. The research also revealed many only consider themselves to be ‘in debt’ once they are £3,882 in the red. But they only begin to see the deficit as a ‘serious concern’ when they owe more than…
Citizens Advice is calling on Ofgem to use its forthcoming vulnerability strategy to set out how it will better support vulnerable energy customers who fall behind on their bills. The call comes in a new report from the charity detailing the experiences of people in vulnerable circumstances – for example, a disability or long-term health…
The Financial Ombudsman Service (FOS) has released its latest complaints data which shows that complaints against high-cost short term loan providers (payday lending) rose by 130% in March. High-cost short term lending complaints accounted for 39,715 of the new disputes. FOS said the surge of complaints in the sector contributed to a 14% rise in…
Free debt advice specialist, PayPlan, has surveyed its clients to find out how being in debt has impacted their mental health. The survey found that over 85% of clients reported that being in debt negatively impacted their mental health, reporting feelings of stress (91%), anxiety (84%) and depression (68%). Almost half of those surveyed visited…
The Institute of Directors has urged the Government to provide clearer guidance to businesses for supporting remote workers, voicing concerns that official advice paid little or no attention to workers’ mental wellbeing. In a new study, Managing Mental Health in Changing Business Models, the IoD found that almost three-quarters of members proactively offered employees flexible…
Homeowner mortgages in arrears figures remain at historically low levels according to the latest figures from UK Finance. The figures published reveal that there were 76,580 homeowner mortgages in arrears of 2.5 per cent or more in the first quarter of 2019, four per cent fewer than in the same quarter of 2018. Whilst the…
In the first three months of 2019, the number of decrees against Scottish consumers dropped by 28 percent, compared to the same period of 2018, according to figures released by the Registry Trust. During the first quarter of 2019, 5,253 debt decrees were registered against consumers. There was a 29 percent decrease in the combined…
Financial capability charity, The Money Charity, has announced that it has now reached over 200,000 recipients of their high-quality financial education in a Money Workshop at Darton Academy in Barnsley. Delivering financial education to young people has never been more essential as negotiating the world of money and personal finance remains a confusing, intimidating prospect…