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1 October, 2014

Bankruptcy and Debt Advice (Scotland) Act 2014 (Commencement No. 2, Savings and Transitionals) Order

New statutory instrument brings into force the Bankruptcy and Debt Advice (Scotland) Act 2014 from 1st April 2015 insofar as it is not already in force (except for section 27 in relation to section 17G(7) of the Bankruptcy Act 1985), and makes a number of saving and transitional provisions.

30 September, 2014

Payday loan companies ‘slow to improve practices’, says Citizens Advice

Findings of online payday loan tracker survey include that only one in five people struggling to repay a payday loan had the interest frozen and only a quarter thought the lender treated them sympathetically,

25 September, 2014

Legal Aid Statistics for 2013/2014

New Ministry of Justice statistics include that total of legal help matters started and civil representation certificates granted was 32 in employment cases, 2,584 in debt cases, 3,877 in community care cases and 55,943 in housing cases.

23 September, 2014

Ofgem to review energy companies’ communications with customers in debt

Review instigated following BBC exposure of companies sending letters purporting to be from debt recovery organisations.

22 September, 2014

Debt management firms must ‘raise their game’, says Financial Conduct Authority

Authority warns that firms must demonstrate that they provide appropriate advice, do not charge unfair fees, and have adequate processes for handling client money when assessments for consumer credit authorisation start next month.

15 September, 2014

75 per cent of parents would like payday loan companies to be banned from advertising to children

Finding of Children's Society survey as new report calls for restrictions on loan advertising to join those already in place to protect children from adverts for gambling, alcohol, tobacco and junk food.

5 September, 2014

Consumer Credit amending regulations

In force from 26 September 2014, new regulations that amend the Consumer Credit (Information Requirements and Duration of Licences and Charges) Regulations 2007 and prescribe information and forms of wording which must be included in certain statements and notices which creditors and owners are required to give to debtors and hirers under the Consumer Credit Act 1974.

4 September, 2014

ABCUL publishes response to Treasury consultation on future of credit union movement

Response sets out 'Blueprint for Development' based on enabling legislation and proportionate regulation; sound governance and strong management; sustainable business models, products and services; and appropriate investment.

27 August, 2014

The Real Deal: No credit and broke

New report from Citizens Advice Scotland which finds that consumers can experience significant detriment and hardship caused by the (often unintentional) use of a credit broker.

27 August, 2014

22 August, 2014

Bankruptcy Fees (Scotland) Regulations 2014

New regulations prescribe the fees and outlays payable to the Accountant in Bankruptcy in respect of the exercise of that office’s functions under the Bankruptcy (Scotland) Act 1985, and also prescribe when and in what manner certain fees and outlays are due for payment.

22 August, 2014

Bankruptcy (Applications and Decisions) (Scotland) Regulations 2014

New regulations that set out the procedure for the making of applications to, and decisions by, the Accountant in Bankruptcy under the Bankruptcy (Scotland) Act 1985 as amended by the Bankruptcy and Debt Advice (Scotland) Act 2014.

22 August, 2014

Bankruptcy (Scotland) Regulations 2014

New regulations that re-enact, with modifications, the Bankruptcy (Scotland) Regulations 2008 following amendments to the Bankruptcy (Scotland) Act 1985 as amended by the Bankruptcy and Debt Advice (Scotland) Act 2014.

19 August, 2014

More than 10,000 people complain to ombudsman about credit finding services so far this year

Financial Services Ombudsman warns consumers about websites that take hundreds of pounds on the promise of finding cheap credit, only for the loans never to materialise.

15 August, 2014

Almost 1.6m UK households are spending more than half their disposable income on housing costs

Fact that working households who are ‘housing pinched’ and in the bottom half of the income distribution have so little left over, in cash terms, to pay for other things, is a real cause for concern, says Resolution Foundation.

12 August, 2014

Scottish Government allocates £518,000 to alleviate food poverty

Money to support 26 projects across Scotland providing services that include increasing food provision, promoting healthy eating, benefits and other advice and linking food providers across a local area.

12 August, 2014

Trussell Trust to launch financial advice service

Guardian reports on pilot scheme of new service introduced after survey revealed that many food bank clients had payday loans.

6 August, 2014

Insolvency Service issues call for evidence to review effectiveness of debt relief orders

Consultation will also consider increasing the bankruptcy debt threshold which has been set at £750 for almost 30 years.

28 July, 2014

Red tape holding back credit unions should be torn up so that they can be reborn as ethical banks

Centre for Social Justice sets out major package of personal debt reforms designed to 'bring fairer banking to Britain’s poorest communities and challenge the monopoly of mainstream banks and payday lenders'.