Credit, Collections & Insolvency News
The first Labour Budget in nearly 15 years marked a decisive shift from the planned cuts set out by the last Government, with better-funded public services and greater public investment coming from higher taxes and more borrowing. But the Budget has not yet delivered a decisive shift away from Britain’s record as a ‘stagnation nation’,…
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Chancellor Rachel Reeves has announced the autumn budget for 2024. Commenting on the announcements, Steve Vaid, Chief Executive of the Money Advice Trust, the charity that runs National Debtline, said “There was some good news in this Budget for people struggling with problem debt. Reform of Universal Credit debt deductions is long-overdue, and the Household Support…
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New Enforcement Board (ECB) research has found that 6% of civil enforcement doorstep interactions are a breach of current standards. The research, commissioned by the ECB and led byagency M.E.L Research, represents the first comprehensive study of its kind. Researchers analysed a substantial, randomly selected sample of over 600 videos of interactions between enforcement agents…
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The Government has launched a new commission set up by the Department for Environment, Food and Rural Affairs (Defra) to explore how water companies in England could work better. The review could see water companies banned from making a profit under plans for a complete overhaul of the system. The Commission forms the next stage…
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New research from Skipton Building Society has found that just one in four people (26%) are feeling hopeful and optimistic about the upcoming Budget announcement. Whilst a further 70 per cent admit to feeling worried or anxious on what the Government may announce. And of those, it is more women (77%) than men (62%) feeling…
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Latest research commissioned by the Insolvency Service has shown evidence of poor practice among providers of Individual Voluntary Arrangements (IVA). Individual Voluntary Arrangements (IVAs) are a legally binding agreement between a person who is insolvent and their creditors. They are administered by licensed Insolvency Practitioners, usually last for between five and six years, and give…
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The Information Commissioner’s Office (ICO) has fined two Manchester based financial and debt management companies a total of £150,000 for sending in excess of 7.5million spam text messages to people. Both Quick Tax Claims Limited, a company focusing on PPI tax refunds, andNational Debt Advice Limited, a debt counselling advice service, first came to the attention of the…
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StepChange Debt Charity is calling for urgent action from the Government and local authorities to overhaul the council tax debt collection system, as it says current practices are causing significant harm to people struggling with their finances, including damage to their health, wellbeing, and relationships. As it stands, there are no binding standards for local…
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New Age UK analysis reveals that shockingly high numbers of pensioners living below or just above the poverty line – 82% or four in every five are set to lose their Winter Fuel Payment (WFP) as a result of the Government’s policy change. This includes huge numbers of older people who are aged over 80, disabled,…
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The number of customer complaints that were unable to be resolved by water companies in England and Wales has risen by almost a third (29%) to the highest level in nearly a decade according to analysis by the Consumer Council for Water (CCW). CCW’s annual household customer complaint-handling report shows overall customers had to make a total…
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With energy bills are set to rise again, by 10%, from today (Tuesday 1st October), a new survey by fuel poverty charity National Energy Action and YouGov has found almost half (46%) of adults say they are likely to ration their energy use this winter – using less than they should for maintaining comfort and wellbeing. A…
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New Which? research has found energy and broadband customers lost an estimated £298m and 27.3 million hours to poor customer service in a year, as the consumer champion challenges firms to make urgent improvements. Which? surveyed more than 4,000 people to uncover how many people had a customer service issue in the year to May…
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With energy prices set to rise 10% in October, new research from Go.Compare Energy has revealed that half of consumers (51%) would consider switching energy providers to manage the cost of their bills, with one in four (25%) actively looking for a new tariff. The new Price Cap will increase from £1,568 to £1,717. Ahead…
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