The Financial Conduct Authority (FCA) has said that 50% of UK adults (25.6m) display one or more characteristics that signal potential vulnerability in their latest report the Financial Lives Survey 2017. Financial Lives survey is the FCA’s largest tracking survey of consumers and their use of financial services, drawing on responses from just under 13,000 UK consumers…
Jane Clack, Money Advisor at free debt advice provider PayPlan, has highlighted a lack of focus on those struggling with debt following the recent political party conferences. Clack believes neither Labour nor the Conservatives delivered strong enough policies that would offer additional support to the clients she works with on a daily basis. “We always…
New research published today has found that mental health professionals are being forced to deal with patients’ wider problems rather than treating their illness, as more and more of them struggle with issues such as debt and benefits. A report by the Money and Mental Health Institute reveals mental health professionals – including psychiatrists and…
Bean a “next-generation price comparison service”, has launched to help so-called JAMs – the Britons who are just about managing – reduce recurring payments and maximise income, saving them hundreds of pounds a year. Bean connects to individual bank accounts and tracks all regular payments, such as direct debits and subscriptions, alerting users to opportunities…
Over the past year, UK consumers’ unsecured debt, amassed primarily on credit cards, student loans, car financing and overdrafts, has reached an all-time high of close to £300bn, or £11,000 per household, growing at a faster rate than at any time in the past 15 years, According a new PwC analysis report. As evidence of…
The Financial Conduct Authority’s (FCA) has warned of a pronounced build-up of debt among young people. In an interview with the BBC, FCA Chief Andrew Bailey has highlighted the ‘growing debt burden’ on young people. The warning, which follows a tour of visits by Andrew Bailey to debt charities including National Debtline, coincides with new…
Suppliers must do more to help those in debt, Ofgem has said, as new research shows that customers are building up on average over £600 in unpaid bills on their gas and electricity accounts before suppliers step in to help them manage paying it back. Ofgem has published its annual report on how suppliers treat…
The Money Advice Liaison Group (MALG) has announced its line for its 30th annual Conference. The conference provides money advisers, creditors, and stakeholders with an opportunity to network and debate current and future issues in the spirit of ‘working together to improve the lives of people in debt’. The 2017 conference, sponsored by Cabot Credit…