Debt news

FCA publishes final rules on Buy Now Pay Later products

New rules will stop loan firms from charging backdated interest on sums repaid during initial offer period.

FCA announces measures to provide greater protection for consumers using overdrafts

Banning fixed charges and higher pricing of unarranged overdrafts among rules to be introduced from April 2020

Circumstances when liability for further education student tuition fee loans can be cancelled

New statutory instrument

Bailiffs' trade association to cease involvement in adjudicating complaints about members from 1 June 2019

Withdrawal of CIVEA from adjudication process means that all complaints will go direct to Local Government and Social Care Ombudsman

Post-18 education review recommends extending student loan repayment period from 30 to 40 years

Independent Panel chaired by Philip Augar also recommends freezing earnings threshold for starting repayments

Complaints about payday loans rise 130 per cent between 2017/2018 and 2018/2019

Treasury Committee recommends requirement for local authorities to sign up to ‘Council Tax Protocol’

Government and debt advice sector issue joint statement on working to support vulnerable people

County Courts (Interest on Judgment Debts) (Amendment) Order 2019

Education (Student Support) (Postgraduate Master’s Degrees) (Wales) Regulations 2019

Outdated council tax regulations adding more than £500 million a year to people’s debt

Personal insolvencies in Scotland increase by 20.5 per cent in 2018/2019

Justice Committee recommends tighter regulation of bailiff industry

Local Government Minister commits to making council tax collection system fairer and more efficient

Level and prevalence of council tax arrears in Scotland continue to rise, StepChange finds

£2.3 billion of debt relief granted through debt relief orders in 10 years since their introduction

Single parents are the fastest growing group seeking debt help, says StepChange