Debt

Cancellation of up to £1,500 of a student’s living costs loan liability in Wales in the academic year 2022/2023

New statutory instrument

Government launches consultation on new statutory debt solution focused on the repayment of debt, rather than debt relief

New Statutory Debt Repayment Plan scheme will be available to people in England and Wales, providing a ‘more robust and effective route out of problem debt’

Debt commitments in the 2022 manifestos of the Northern Ireland political parties

Money and Mental Health Policy Institute issues new guidance to help energy providers support vulnerable customers

Charity sets out four steps to help minimise distress caused by missed payments and debt

Expanded data sharing exercise between government and local authorities is enabling greater recovery rate of council tax debt

DWP says latest pilot is 'strengthening the application of attachment-of-earning orders' where deemed appropriate for debtors

We Are Debt Advisers, Advice UK and Unite Debt Advisers Network issue joint call for MaPs to engage in a ‘meaningful and full consultation’ on the future of debt advice

Campaign document also call for immediate changes to debt advice contracts from April 2022 and for MaPS to 'learn the lessons' from failure of previous commissioning process

England Illegal Money Lending Team welcomes report that proposes action to address the fact that a million people are in debt to an illegal lender

CSJ report highlights emerging trends in illegal money lending and the menacing techniques and exploitative methods used by loan sharks to deceive their victims

Commencement of provisions that reform the Scottish system of limitation periods for initiating enforcement action in relation to certain rights and obligations including to repay debts

New statutory instrument provides for three year’s advance warning before changes under the Prescription (Scotland) Act 2018 are introduced

MaPS sets out how the goals and ambitions detailed in its UK Strategy for Financial Wellbeing will be translated into tangible actions

However, Chief Executive says that while MaPS has a key role in coordinating the implementation of the strategy, it will take a united effort from government, the private sector and charities to achieve its collective aims

Government announces extension of the student loan repayment period in England from 30 to 40 years from 2023

Plans designed to make higher education a ‘fairer system for both students and the taxpayers’ also include reducing the loan repayment earnings threshold to £25,000

Removal of the Association of Chartered Certified Accountants as a recognised body capable of authorising its members to act as insolvency practitioners in Northern Ireland

New statutory rule

Consultation on problem debt and poverty launched by Scottish Social Justice and Social Security Committee

Committee particularly seeks views on the impact of digital exclusion and social stigma, and the interaction between a person's mental health and debt

MaPS confirms revised proposals for the commissioning of debt advice services in England from April 2022

Plans include £30 million annual funding of regional debt advice services after previous procurement plans were cancelled following concession that they would not be in the best interests of people who need debt advice

Revision of income thresholds for deductions under an attachment of earnings order for council tax arrears in Wales

New statutory instrument

More than 41,000 Breathing Space registrations had been made by the end of December 2021

However, new Insolvency Service statistics highlight that just 624 mental health registrations had been made since the scheme's launch

Government launches consultation on plans to strengthen the regulation of insolvency services

Key changes include establishing a single, independent regulator and developing a system of compensation and redress

MaPS concedes that proceeding with its procurement exercise for the award of regional debt advice contracts would not be in the best interests of people who need debt advice

Announcement follows concerns raised by MPs and frontline debt advisers that new contracts would not provide adequate levels of face-to-face advice and would exclude many vulnerable people from debt advice altogether