Credit, Collections & Insolvency News
New research by Royal London has revealed a startling picture of people’s personal finances during the pandemic. the figures above show, household incomes have fallen while bills have risen, with many people believing that things are going to become even bleaker. The company found that the self-employed have been more acutely affected by Covid-19 than…
Read moreA new report has found ‘widespread unfairness’ in the way in that central and local government collects debts including council tax, benefit and tax credit overpayments. The Money Advice Trust is calling for the government to ‘level up’ its debt collection practices to those of other sectors or risk pushing people further into difficulty in…
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Nearly a quarter of 18-24 year olds struggling to afford their household bills with one in 10 18-24 year olds expecting to be made redundant. Young people are struggling to cope with the financial burden the pandemic has placed upon them, according to new research by comparethemarket.com. The findings in the company’s Household Financial Confidence…
Read moreFreelancers whose income has been slashed this year due to the pandemic could soon face tax bills higher than their earnings according to new research by Royal London. As reports suggest that the Treasury is considering a number of dramatic tax increases on the self-employed, including a rise in National Insurance Contributions, Royal London is…
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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…
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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…
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Two thirds of the public think that vital public services, such as social care, are put at risk when people who can pay their council tax don’t, according to a new YouGov survey. Over 80 per cent of the public think that this would continue or get worse if local councils didn’t use bailiffs to recover…
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The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has responded to new official figures that show £3.6 billion in council tax was owed before the Covid-19 outbreak, by urging central government to make changes to the way local authorities are able to collect council tax debt. The call comes as…
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CIVEA, the principal trade association representing over 95% of civil enforcement agencies in England and Wales, has released two new videos to help explain why the pending return to enforcement is both safe and fair. The animations are available now and are free to view by local authorities (LAs) and the general public on the…
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Universal Credit is ‘failing millions of people’ especially the vulnerable, according to a new report from the Lords’ Economic Affairs Committee which said it agreed with the government’s aim for the scheme to bring together multiple benefits into one payment. The Committee proposals for reform’, which calls on the Government to make substantial changes to…
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The Financial Conduct Authority (FCA) has set out new best practice guidance for firms to do more to protect vulnerable consumers. The second consultation is its revised guidance for firms on the fair treatment of customers in vulnerable circumstances, alongside new research on the experiences of vulnerable consumers. More than 24 million people display one…
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The Government must act to prevent council tax loading £158 million in bailiff and court fees on to people who can’t pay following the pandemic according to debt charity StepChange. Bailiff visits, often used to enforce debt owed to local authorities in the form of unpaid council tax, will start up again from 23rd August,…
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The Government has announced that it has launched a comprehensive new funding package for councils to help address coronavirus pressures and cover lost income during the pandemic. The government says that it has delivered an unprecedented package of support to councils over recent months, and councils in England will now receive a further £500 million…
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