Credit, Collections & Insolvency News
Forecasts for the April 2024 Default Tariff Cap (price cap) show a fall of 14% in the second quarter of the year, with a typical dual fuel consumer expected to pay £1,660 per annum, a £268 decrease from January bills of £1,928 according to Cornwall Insights. The trend is currently expected to persist throughout the year,…
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Ofgem has announced that energy debt has reached £2.9 billion and may look to recover this by raising the price cap and increasing energy bills. The energy regulator says that the scale of energy debt means that they must take action to protect market and ensure customers are protected from uncontrolled rises This follows an…
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New rules which mean that energy suppliers will now have to help struggling customers with their energy bills have now come into effect. Energy regulator says the new rules will make it easier for domestic customers to contact their supplier, help provide support for domestic customers who are struggling with their energy billsand compel suppliers…
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Water regulator, Ofwat has set out expectations for the minimum standards water companies should provide for all customers, specifically recognising vulnerable householders. The new vulnerability guidance recognises that some customers need extra help to access water and wastewater services, such as those who are sick, have a disability or have mental health problems. It will…
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Mobile phone providers could be banned from linking price rises to runaway inflation figures under new proposals from Ofcom. The regulator says telecoms customers must be told upfront in pounds and pence about any price rises their provider includes in their contract. With most major phone, broadband and pay TV companies now including mid-contract price…
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Energy regulator Ofgem has announced that the energy price cap will increase by 5% on the previous quarter from 1st January to 31st March 2024. The cost for an average household paying by direct debit for dual fuel equates to £1,928, a rise of £94 over the course of a year – around £7.83 a…
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Chancellor Jeremy Hunt has announced his Autumn Statement. The Chancellor began his speech by saying he had more than 100 measures to incentivise and support businesses in what he described as the ‘biggest business tax cut in modern British history. StepChange has welcomed the unfreezing of Local Housing Allowance (LHA) and uprating of benefits in…
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Latest Cornwall Insight’s analysis has suggested that the energy price cap is expected increase by five percent in the first quarter of next year, before declining from the end of March. Based on it;s analysis, for a typical dual fuel household, it has predicted that the Q1 2024 price cap will be £1,931, this is…
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Ofgem has announced a call for input on the ‘standing charge’ – how it is applied to energy bills and what alternatives could be considered. The standing charge is a daily charge that you pay your energy supplier each day to cover fixed costs of providing gas and electricity, regardless of how much energy you…
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New Ministry of Justice data, has found between July and September 8,399 landlords in England started Section 21 no-fault eviction court proceedings against their tenants, the highest number for seven years. With the number of court proceedings resulting from no-fault evictions climbing by 38% in a year, Shelter is urging the government not to further…
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Several proposed reforms were announced by King Charles as he laid out the government’s priorities for the year ahead at the State Opening of Parliament. Joanna Elson CBE, Chief Executive of Independent Age said “With more than two million older people living in poverty and at least another million living on the edge, systemic change…
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The High Court Enforcement Officers Association (HCEOA) is backing the Enforcement Conduct Board’s (ECB) new accreditation scheme for the enforcement profession. A register of accredited enforcement firms has now been published on the ECB’s website for the first time and marks an important step for the ECB, which was set up in 2022 to provide…
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The new ‘Help with Fees’ scheme protects universal access to justice by providing those on low income and little to no savings with financial help towards the cost of these fees. In the last year alone, the scheme has provided over £80 million to thousands of people in a wide range of cases such as…
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