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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

22 December, 2021

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

17 December, 2021

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

16 December, 2021

Front-line debt advisers call on government to stop Money and Pensions Service making cuts to community-based debt advice services

We Are Debt Advisers warns that move to basic telephone and webchat advice under current procurement exercise will 'exclude many vulnerable people from debt advice altogether'

9 December, 2021

AdviceUK calls for Money and Pensions Service to ‘press pause’ on its procurement process for debt advice services in England

Letter to MaPs chief executive calls for existing debt advice funding arrangements to be extended so that a public consultation and equality impact assessment can be concluded

7 December, 2021

FCA launches consultation on new Consumer Duty that will put more of the onus on firms to act in their customers’ interests and get their products and services right

New duty will be enforced using 'assertive supervision' and 'new data-led approach to intervene quickly when practices which do not deliver for consumers are identified'

6 December, 2021

Government confirms that new Statutory Debt Repayment Plan scheme will not launch until 2024

In new financial inclusion report, HM Treasury says that regulations for the new scheme may not be laid until the end of 2022

2 December, 2021

MPs express concern that new MaPS debt advice contracts will not provide adequate level of face-to-face advice

In response, Minister says that MaPs will need to demonstrate that commissioned services are able to deal with complex cases 'irrespective of the channel the cases come through'

30 November, 2021

Many debt advice clients actively prefer digital or telephone channels because of the greater anonymity and flexibility they provide

Responding to concerns raised by the Treasury Committee, Money and Pensions Service adds that outcomes for people are comparable in both face-to-face and remote channels

30 November, 2021

Financial Conduct Authority finds that almost 50,000 ‘mortgage prisoners’ are unable to switch to a new mortgage deal despite being up to date with payments

Finding from FCA review will now be used by HM Treasury ‘to target work to determine if there are any further solutions for affected borrowers’

29 November, 2021

24 November, 2021

Housing, Communities and Local Government Committee launches consultation on council tax collection in England

Inquiry to consider whether there need to be changes in local authority collection practices and legislation governing recovery of arrears

17 November, 2021

Treasury Committee raises concerns about impact of potential reduction in face-to-face debt advice in England following recent tender exercise by MaPS

In addition, Committee questions whether move from grant agreements to contracts means there is an expectation that providers will make profits on the contracts

17 November, 2021

Financial Conduct Authority launches consultation on banning ‘debt packagers’ from being paid to refer customers on to other firms for debt solutions

Ban proposed in response to evidence that some regulated providers of debt advice appear to have manipulated customers' details to receive higher referral fees from Insolvency Practitioners

16 November, 2021 Open access

Senedd Committee calls on Welsh Government to continue to support people struggling with basic household costs in light of ongoing levels of pandemic-related debt

New Report includes recommendations to consider ‘debt bonfires’ to write off public sector debt, extending the Tenancy Hardships Scheme and continued flexibilities in relation to the Discretionary Assistance Fund

12 November, 2021

1 November, 2021

While Money and Pensions Service is ‘evolving into a more efficient and effective organisation’, Departmental Review identifies a number of areas where it has failed to live up to expectations

Review finds that organisation could not have had a more challenging start since its launch in 2018, and that the delivery of operational outcomes has fallen short