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19 June, 2020 Open access

FCA announces proposals for further support for users of consumer credit who are facing financial difficulties due to coronavirus

Proposals include extending period in which people can request payment freeze to 31 October 2020

9 June, 2020 Open access

Government announces extra £38 million funding for debt advice providers to help people affected by coronavirus

Money and Pensions Service will set out process for allocating funding 'in the coming weeks'

9 June, 2020 Open access

Radical action is needed to prevent a ‘personal debt tsunami’ following coronavirus pandemic, warns StepChange

Debt charity sets out three key recommendations to enable a less painful exit strategy from the COVID-19 crisis

8 June, 2020 Open access

Return of bailiffs once coronavirus lockdown is lifted would be ‘unfair and unsafe’ without additional government action, says StepChange Debt Charity

Call for action responds to Civil Enforcement Association publication of Support Plan to safeguard bailiffs and people they 'encounter' in the community

4 June, 2020

Financial Ombudsman Service upholds almost three quarters of payday loan complaints in 2019/2020

Chief Ombudsman highlights a ‘disappointing proportion of cases’ where short-term lenders ‘failed to ensure customers’ borrowing was affordable and sustainable’

3 June, 2020 Open access

Financial Conduct Authority confirms support that lenders should give to homeowners who are struggling to pay mortgage due to coronavirus outbreak

Updated guidance includes extension of mortgage holidays for three months and continuation of ban on lender repossessions until 31 October 2020

22 May, 2020 Open access

FCA announces plans to continue mortgage holidays for homeowners affected by coronavirus

Proposals also include extending the application window to the end of October and continuing the ban on mortgage possession proceedings

21 May, 2020 Open access

Debt charities call for urgent action to help those struggling with council tax debt due to COVID-19 pandemic

Proposals include more time to pay and a 'pre-action protocol' for councils to follow before enforcing recovery

21 May, 2020 Open access

Temporary exemption from bankruptcy application fee among measures in Coronavirus (Scotland) (No.2) Bill unanimously passed by MSPs

New emergency legislation also includes provisions that make it harder for creditors to make individuals bankrupt, and facilitate use of electronic processes to make bankruptcy easier to administer during pandemic

21 May, 2020

MSPs call for reform of the Protected Trust Deed debt solution to make it more effective in supporting people in debt

Scottish Parliamentary Committee highlights that in some cases debtors may not start to repay their creditors for up to two years, as payments go towards paying trustee fees first

15 May, 2020 Open access

Individual voluntary arrangements increased by more than a third in April 2020 compared to same month last year

However, first in a new monthly statistics series during the coronavirus crisis also shows that bankruptcy and DRO numbers have fallen

13 May, 2020 Open access

Provision to increase minimum debt level that an individual must owe before a creditor can make them bankrupt included in new Coronavirus (Scotland) (No.2) Bill

Provision also made to extend eligibility conditions for the less costly ‘minimal asset’ bankruptcy process

6 May, 2020 Open access

1 May, 2020 Open access

Policy changes needed to prevent ‘financial cliff-edge’ when short-term protections against impact of coronavirus come to an end, says Citizens Advice

New report calls for range of longer-term measures to ensure that people are not penalised for unavoidable debts built up during pandemic

1 May, 2020 Open access

FCA extends period during which lenders are required to contact ‘mortgage prisoners’ to let them know they are now able to switch mortgages

Extension of deadline due to 'significant changes' in the mortgage market since the outbreak of coronavirus, which mean that that it would be wrong to require letters to be sent to people at this time

28 April, 2020 Open access

27 April, 2020

Centre for Social Justice report ‘makes powerful case’ for Government Debt Management Bill, says Money Advice Trust

Trust also welcomes the CSJ's call for improved council tax collection practices and independent regulation of the bailiff industry

22 April, 2020 Open access