Other areas of social welfare law

Debt

Page 4 of 68

18 June

Bankruptcy and Diligence etc. (Scotland) Act 2007 (Commencement No. 9 and Savings Amendment) Order 2

New statutory instrument brings into force provisions aligning debtor applications for sequestration with creditor petitions for sequestration by increasing the minimum debt limit from £1500 to £3,000 in Scotland.

18 June, 2014

13 June

1 in 6 people in Wales struggle with debt, according to new report for the Welsh Government

Report by the Public Policy Institute for Wales on the levels of over-indebtedness in Wales reveals that 16 per cent, or 400,000 people, are in too much debt.

13 June, 2014

11 June

Payday borrowers paying the price for lack of competition, says Competition and Markets Authority

According to provisional findings, published today, a typical customer could save between £30 and £60 per year if the market were more competitive.

11 June, 2014

10 June

National Debtline reports 140 per cent rise in calls about household debts since 2007

'The gradual erosion of some families’ surplus income in the face of rising prices has led to a new generation of debt problems – one to which more people are vulnerable, one which is harder to resolve, and one which has no definitive solution', says Joanna Elson, Chief Executive of the Money Advice Trust.

10 June, 2014

30 May

14 per cent increase in debt problems cause by HMRC overpayments, say Citizens Advice

'Tax credits are there to make sure people get a decent standard of income, but the sharp rise in debts from overpaid tax credits suggests this policy is having the opposite effect', says Chief Executive Gillian Guy.

30 May, 2014

Complaints to financial ombudsman against credit unions halved in the past year

However, overall complaints have doubled, according to Financial Ombudsman Service's 2013/2014 Annual Review.

30 May, 2014

23 May

Poverty, debt and credit: an expert-led review

New report from University of Bristol and Joseph Rowntree Foundation seeks to 'unpick the research evidence to provide an over-view of the extent to which problem debt and consumer credit use cause poverty; and the extent to which poverty results in problem debt and consumer credit use'.

23 May, 2014

22 May

Number of individual voluntary arrangements up by 14.3 per cent over last year

New insolvency statistics also show that bankruptcies are down 15 per cent and debt relief orders are down 9.3 per cent over the same period.

22 May, 2014

21 May

Quarter of those aged over 65 struggle financially, says Age UK

New research also highlights that £5.5bn of financial help for pensioners goes unclaimed each year.

21 May, 2014

One in ten mortgagors risks unaffordable repayments as interest rates rise

Modelling by Resolution Foundation finds that around 770,000 households are at risk of being 'mortgage prisoners' due to a limited ability to switch to better mortgage deals and at risk of payments being at least one third of disposable income by 2018.

21 May, 2014

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