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News

freeze

Freeze on benefits to end in April 2020.

The freeze on local housing allowance (LHA) rates is to end in April 2020. The government announced the changes in its recent election manifesto.  The freeze was put in place in 2016 by the then chancellor, George Osborne.  It was due to end this April anyway. This means that, from 1 April, payments will rise in ...
demands

Demands for repayment flood in now festive season is over.

Demands are pouring in. The festive season is over and once more its January.  The month that sees households receiving payment demands whilst dealing with the increased costs the Christmas period brought. This is nothing new, but the increased availability of buy now, pay later schemes has added to the debt pile for many.  Over ...
national living wage

National Living Wage to increase in 2020.

The national living wage is set to rise.  The question is by how much.  What will be the new minimum amount for the national living wage? What is the national living wage? The National Living Wage is the hourly rate for the minimum wage depending on your age and whether you are an apprentice. The ...
borrowing

UK consumers are borrowing less on their credit cards.

For the first time in nearly 7 years, UK consumers borrowing less by making net repayments on their credit cards. The Bank of England has reported the first monthly fall in credit card debts since July 2013.  Households have been reining in their spending. Households are trying to rebuild their finances after a borrowing boom. ...
FCA

New FCA rules could see thousands of people have their credit cards suspended.

New rules from the Financial Conduct Authority, FCA, are due to come into force next month.  The new rules mean that thousands of people struggling to pay back their credit card debt could see their accounts suspended. FCA told banks to identify at-risk customers in September 2018. Back in September of 2018 the FCA told ...
Buy now pay later

Buy now pay later schemes targeting younger consumers.

Buy now pay later credit schemes have been rebranded to convince younger consumers they are making ‘lifestyle’ spending choices. These types of loans fell out of favour as they gained a bad reputation.  They are now on the rise again and targeted at a new technology aware generation.  Buy online at the click of a ...
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