Debt news - Rightsnet

3 August, 2020 Open access

Workers who have been furloughed are three times more likely to have missed bill payments

With just a couple of months until the CJRS comes to an end, there is real concern that the gap between furloghed workers and those working as normal could widen even further, says Which?

31 July, 2020 Open access

Financial Conduct Authority launches ‘call for input’ on further support for mortgage and consumer credit customers beyond October 2020

Views also sought on what should happen to consumers coming to the end of a second payment deferral under its temporary guidance

29 July, 2020

Financial Conduct Authority launches second consultation on guidance framework for the fair treatment of vulnerable people in debt

Regulator also highlights actions it has taken against firms who are failing to account for customers’ vulnerabilities

24 July, 2020 Open access

Urgent action needed to ensure that people with mental health problems can access the debt advice they need in aftermath of the coronavirus pandemic

'Taking small steps to make support more accessible would make a big difference', says Money and Mental Health Policy Institute

23 July, 2020

Ombudsman finds council and its enforcement agents at fault after they seized and sold debtor’s car, that was necessary for her employment, to clear council tax and other debts

Investigation finds a 'catalogue of failings’ that showed the council had insufficient regard for regulations governing how its enforcement agents should collect debts as well as good practice

16 July, 2020

Money Advice Trust welcomes government’s commitment to launch statutory Breathing Space scheme in May 2021

Charity says the new 60-day moratorium on interest, charges and enforcement action will provide the time and protections that people in financial difficulty need to begin to deal with their debts

1 July, 2020 Open access

FCA confirms further support for users of consumer credit who are still experiencing payment difficulties due to coronavirus

Guidance, which comes into force on 3 July 2020, includes extension of period during which people can request payment freeze to 31 October 2020

30 June, 2020 Open access

Ofgem proposes formal requirement on energy suppliers to offer and monitor repayment rates based on a customer’s ability to pay

Proposals in consultation on improving protection of consumers also include making package of support provided during COVID-19 permanent from this winter

29 June, 2020

Cabinet Office launches call for evidence on fairness in government debt management

Consultation seeks views on where and how local and central government debt management practices can be improved

25 June, 2020 Open access

Debt charities warn of August ‘debt D-day’ unless government takes action to facilitate council tax recovery outside the court process

Given the scale of financial difficulty as a result of the COVID-19 crisis, government also urged not to lift the ban on bailiff visits until further protections are in place

25 June, 2020

Cancellation of up to £1,500 of a student’s living costs loan liability in Wales in the academic year 2020/2021

New statutory instrument

23 June, 2020 Open access

Ofgem warns it will not tolerate ‘sharp practice or aggressive debt collection’ as energy firms begin to restart debt management activities

Suppliers must continue to provide support and give careful consideration to customer's circumstances and ability to pay, says Chief Executive

22 June, 2020 Open access

Extension of period over which enforcement agents are prevented from taking control of goods during coronavirus outbreak

New statutory instrument

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

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