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August 09, 2024
Absolutely Amazing Consumer Credit Act Expert!

Consumer | Consumer Credit


The...

The number of people asking for breathing space from their debts under rules brought in during the Covid-19 pandemic jumped by 25% in 2023 compared with the previous year.

Across England and Wales, there were 88,390 registered debt relief breaks in 2023, up from 70,772 in 2022.
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The City regulator is reviewing whether people could be owed compensation for being charged too much for car loans, following a high number of complaints.

The Financial Conduct Authority will look at historical discretionary commission arrangements in the motor finance market. It said that,...

Google searches for scam Health Lottery letters have spiked this week as fraudsters target hopeful victims.

These sneaky ‘lottery award winning claim notification’ letters claim recipients have won as much as £750,000 in the Health Lottery.

Launched in 2011, the Health...

The FCA expects lenders to learn the lessons from good and poor practice during the coronavirus (Covid-19) pandemic to help borrowers during the cost-of-living squeeze.

The FCA acted quickly during the pandemic to put in place guidance that led to more than five million payment deferrals...

Rogue volume IVA provider wound-up, along with three connected companies, protecting people in debt from further harm after the companies abused millions of customers’ payments.

Vanguard Insolvency Practitioners Limited, MDN Consultancy Limited, Newtco Limited and KIS Financial Consultancy...

Some energy suppliers have been given a three-week deadline to explain accusations they have increased customers' direct debit payments by "more than is necessary".

Jonathan Brearley, boss of the energy regulator Ofgem, recently said there were "troubling signs" of the...

The PM yesterday said that fears of an "inflationary spiral" had held back the amount of support the government could offer in the cost of living crisis.

This is a tricky concept to explain to millions of people seeing the energy bill direct debits more than double, and take home...

Buy-now-pay-later firm Klarna will start reporting customer use of its products to credit agencies which could affect their credit ratings.

The firm said the move could help or hinder customers' ability to get credit for loans such as mortgages.

Klarna will start sharing the...

National Express has continued its takeover battle with DWS for Stagecoach.

In its trading update the firm says its believes its proposed combination with Stagecoach with “£45m of run-rate synergies” is a “superior value creation opportunity to the DWS offer”.

DWS...

British travellers faced disruption on Monday morning as airlines cancelled more than 120 flights and Eurotunnel warned of three hour delays.

Easyjet and British Airways blamed staff absences from Covid for cancellations, while Eurotunnel said a broken down train caused delays.
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The transport secretary has said energy will not be rationed in the UK, despite pressure on supplies globally.

Grant Shapps ruled this out after Labour's shadow business secretary suggested ministers might need to prepare for rationing.

Some European countries have moved towards...

The price of a first class stamp has risen by 10p to 95p as Royal Mail seeks to cover higher delivery costs while the number of letters being sent falls.

Second class stamps have also increased by 2p to 68p.

Royal Mail said it was having to deliver to a growing number of addresses,...

Heritage Pensions Limited (Heritage), is a SIPP operator authorised and regulated by the FCA. On 17 March 2022 the directors appointed Paul David Williams and Edward Robert Bines of Kroll Advisory Ltd (“Kroll”) as joint liquidators. The liquidators are all qualified insolvency practitioners
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A provider of pre-paid funeral plans has collapsed, placing in doubt the arrangements made by 46,000 customers in advance of their deaths and whether they will get their money back. Wakefield-based Safe Hands had been in discussions with the Financial Conduct Authority (FCA) before calling in administrators...

Today the Online Safety Bill is being laid before the UK Parliament, the next step towards it becoming law and giving Ofcom powers to help people to lead a safer life online

source: OFCOM

People suffering financial hardship should receive better support from phone and broadband providers under proposals published by Ofcom today. According to our recent research, around 1.1 million households (5%) are struggling to afford their broadband. That rises to around one in 10 among the lowest-income...

UK phone companies will make it harder for scammers to use their networks, under a range of measures proposed by Ofcom today.

Almost 45 million people were targeted by scam calls and texts last summer. Criminals are becoming increasingly sophisticated, and nearly a million of these consumers...

The Information Commissioner’s Office (ICO) today announced fines totalling £405,000 to five companies responsible for over 750,000 unwanted marketing calls targeted at older, vulnerable people. The ICO also issued these companies with enforcement notices that require them to immediately stop making...

The strategy to tackle fraud and other economic crime should be overhauled to prevent scammers acting with "impunity", according to MPs.

Ministers should consider creating a new government department and a new law enforcement agency to get to grips with the issue, the Treasury...