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23 June, 2022

Committee of Advertising Practice warns insolvency practitioners and lead generators that they must be extremely careful to ensure their advertising is responsible and does not mislead

New Enforcement Notice outlines that debt management adverts must clearly state the risks and fees involved, and must not imply association or approval from government, charities or regulated advisory bodies

20 June, 2022

Buy Now Pay Later sector to be required to carry out affordability checks on new borrowers

Government plans outlined in response to consultation will also require lenders to be approved by the FCA, and include a new right for borrowers to complain to the Financial Ombudsman Service

16 June, 2022

Government commits to reform of ‘highly prescriptive and increasingly cumbersome and inflexible’ Consumer Credit Act

Consultation on the direction of reform, that could move much of the Act from statute to sit under the remit of the FCA, is expected to be published by the end of the year

13 June, 2022

13 May, 2022

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’

3 May, 2022

20 April, 2022

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

11 April, 2022

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

8 April, 2022

Lords Select Committee draws regulations that freeze earnings repayment thresholds for student loans to the ‘special attention’ of the House

Peers raise concerns about the impact the change will have on borrowers, particularly as the government intends to maintain the freeze until 2024/2025

23 March, 2022

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

22 March, 2022

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

2 March, 2022

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

25 February, 2022

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

24 February, 2022

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

16 February, 2022

16 February, 2022

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

14 February, 2022

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

9 February, 2022

28 January, 2022

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