A powerful group of MPs and peers is backing a demand for an investigation into alleged forgery by British banks on repossession documents and court debt recovery papers.
Blog Category: Debt
Former Prime Minister and Chancellor Of The Exchequer Gordon Brown has claimed the world is ‘sleepwalking into the next financial crisis’ while current Chancellor Philip Hammond says we are still feeling the after-effects of the last.
Britain’s financial watchdog has a new boss – former head of the Bank Of England’s Prudential Regulation Authority, Andrew Bailey.
He takes over the post at the head of the Financial Conduct Authority (FCA) from interim chief executive Tracey McDermott who is leaving the regulator for pastures new.Read More
Applications for credit can feel like being cross-examined, probed and prodded by lenders trying to assess your suitability for a loan – but what are they looking for? We’ve got the answers.
UK lenders are agreeing record numbers of deals for struggling borrowers who have run into arrears according to new Bank Of England figures.
But it’s not all good news. Tenants are being evicted at seven times the rate of home repossessions.Read More
Payday lender Cash Genie is facing a £20 million bill for compensation after the UK regulator found ‘serious failings’ in the way they did their business.
The Financial Conduct Authority (FCA) listed a number of examples of ‘poor practice’ after the company reported themselves to the regulator and stopped offering new payday loans in September last year.Read More
The government has struck a deal with an American owned debt chasing company to try to recover £20 billion in unpaid taxes and student loans.
Ministers have created a joint venture with TDX Group – a leading ‘recovery management’ firm – to try to recover overpaid benefits and grants as well as the taxes and student loans.Read More
Debt worries have been linked to mental health problems in new research.
A survey linked to Mental Health Week found that 76% of people worry about their debts at least some of the time, but 15% worry about them all the time.Read More
Millions of UK children are living with problem debt worth almost £5 billion and millions more are in families which are struggling to keep their heads above water.
The Debt Trap is a new joint report from The Children’s Society and the StepChange debt charity which reveals that 2.4 million children are affected by the deepest of debts and another 5 million are in families living on the financial edge, at constant risk of falling behind in their repayments.Read More
A generation of ‘boomerang kids’ – children who leave home and then return again – is forcing parents to go into debt to support their returning offspring.
A new Parents and Cost of Living Report reveals almost half of parents are relying on credit to fund the additional £817 a year it costs to support their over 18s who are still living at home.Read More