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A new quarterly analysis from the Consumer Credit Counselling Service reveals that debt counselling requests from the 60+ age group have increased significantly
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A new legal framework governing the way bailiffs operate is on the way, the Ministry of Justice has announced
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New rules governing how retailers are allowed to promote store cards to customers have been introduced
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The rules for Debt Relief Orders are so stringent and inflexibly administered that a tax refund can disqualify inclusion
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The debt can still be due, debt collectors employed to pursue, and monies can still be snaffled from your current account.
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A new survey released by Shelter today warns that 7m are using short term finance to maintain mortgage or rent payments
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A quarter of all Debt Relief Orders have been taken out by people in the 25-34 age group. New campaign launched to encourage earlier help.
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A Leeds based debt helpline has gone into administration, because of the decline in the number of suitable IVAs
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Charging Orders are still the weapon of choice of lenders despite pressure from the OFT
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With increasing numbers of lenders and utilities using debt collectors more quickly than before, here’s some timely advice on how to handle them.
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Without this, the cost of tracing gone-aways will rise substantially, and that will increase the cost of credit for good payers
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Then you probably have rights you never knew you had, and ones that lenders are very unlikely to tell you about. Your kindness does not go unnoticed in UK law.
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The short answer is yes. But you can avoid the risk completely if you understand what has to happen before you can be banged up, and take steps to avoid it happening to you.
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Despite optimism relating to falling levels of bankruptcy and reduced number of people struggling with their mortgage, no-one is counting their chickens just yet.
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The Office of Fair Trading has issued a new consumer guide about claims management companies who market their services on the back of being able to write off debts because of legal loopholes in the documentation underlying the credit facilities.
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Debt management firms who are found to be misleading consumers face having their licenses taken away after an OFT report led to 129 “final warnings”.
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The number of houses being repossessed and the number of homeowners in arrears on their mortgage repayments both fell in the second quarter of 2010. But could this be the calm before the storm?
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The Citizens Advice Bureau has invited Debt Management firms to bid to become its recommended provider, in the hope that it will improve the quality of service consumers receive.
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The way that banks are able to use customers’ savings to pay off outstanding debts on other accounts could be set for a review, with new FSA guidelines in the pipeline.
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The data that is used to trace debtors could get a whole lot more accurate, if the OFT decides that new measures of quality control are needed. Could it mean less people being wrongly chased for debts?
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Consumers who paid up front fees to ‘claims’ companies are increasingly being forced to seek debt management help, after seeing their failed cases lead to even larger levels of debt.
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The number of expats seeking help with debts they have in the UK is on the increase at the same time as the government’s debt help initiatives are branded a “complete failure”. Are things really that bad?
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A new initiative set to come in next month will see a select number of consumers struggling with debt entitled to make only ‘token gesture’ repayments until their situation improves
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You can now file for bankruptcy whilst checking you email or updating your Facebook status. The move to online filing will make the process cheaper, and more accessible, but is it a good thing?
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46,000 homes were repossessed in 2009 - the highest number since 1995, but is there brighter news once you dig past the gloomy headline?
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Yet another company has had its knuckles rapped for misleading consumers about ‘unenforceable debt’ claims and potentially harming their credit ratings in the process.
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The number of people forced to declare themselves insolvent hit a record high in 2009 as debt advisors struggle to keep up with demand.
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The amount of money that credit card providers wrote off as ‘bad debt’ increased dramatically in the third quarter of 2009, but are the figures skewed?
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February usually is the ‘peak delinquency’ month for credit cards as many struggle with post Christmas bills.
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Both the OFT and the Ministry of Justice are looking at how debt management companies sell and operate. But a Debt Management Plan is not always right for everyone.
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As a further batch of test cases are set to determine the outcome of thousands of claims, the Ministry of Justice reveals that 1 in 4 claims companies are breaching guidelines.
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Just because the card company sold Payment Protection Insurance incorrectly according to some newspapers?
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A charity has warned that Europeans are planning a visit to Britain to file for bankruptcy, to take advantage of our ‘relaxed’ bankruptcy laws.
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The government has launched a consultation to assess whether debt management firms need stronger regulation in a battle to beat dodgy practices.
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Levels of personal debt in the UK fell for the first time since records began in July, but requests for debt help continue to increase. What do the figures mean?
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Actor Neil Morrissey has chosen to repay his creditors through an IVA rather than opt for bankruptcy. But will that save him from losing his home?
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The latest tactic by dodgy debt management firms could see you left out of pocket, and with a tarnished credit file. Find out why you shouldn’t even be tempted.
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Companies making exaggerated claims about wiping out debts take another hammering, whilst cold-calling debt firms are also told to stop what they’re doing.
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The length of time that companies have to take court action over debts could be cut in half, and credit files could shrink in size as a result.
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Firms who promise to wipe consumer debts based on ‘unenforceable’ credit agreements could be stopped in their tracks after a County Court ruling.
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Debt problems are far more commonplace than most people think. It is rare to see a credit report with absolutely no late payments recorded over the past six years and one in six credit reports contains a default.
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The CCCS has reported a dramatic increase in the number of people on higher incomes seeking help with their debts. Find out what has caused the trend to change.
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The Government has launched a new consumer helpline aimed at stemming the use of unlicensed lenders. But will people dare to use it, and what other help is on offer?
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A new system for helping consumers deal with unmanageable debt is set to be rolled out in April. Find out who they are aimed at, and what they can do.
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The Department of Justice, Office of Fair Trading and Citizens Advice Bureau combine to tackle dodgy debt advice adverts, with threats of fines, closure and criminal proceedings.
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…and other very scary statistics from the money education charity, Consumer Action. Where to get advice do if you’re suffering debt problems of any sort.
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Increased Christmas spending has prompted fears of record levels of bankruptcy in 2008. One in four people are predicted to have debt problems following the festive season.
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Changes in the law in 2008 will offer extra protection to borrowers and reduce the penalties for paying back loans early.
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