Category Archives: benefits

December’s debt and money news

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It’s time for our usual round-up of the latest debt and money news! Since our last update, there’s been plenty going on, including the Government’s Autumn statement. We’ve looked at in detail to see how you’ll be better, or worse off when the changes kick in.

But that’s not all; we’ve also heard some alarming news regarding some payday lenders who may have been targeting the homeless.  There’s a call from our friends at Moneysavingexpert.com to fix your utility bills NOW, and an inspiring story about how one woman reduced her spending dramatically and changed her outlook on life in one year…

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November’s debt and money news

posted by in benefits, Debt, Debt companies, Dodgy practice, Payday Loans Leave a comment

It’s time for debt news again! As usual, things have been happening. Money things. Debt things. Things for us to report to you.

What can be expected from this month’s round up? Payday loans are causing problems, married couples are missing out on tax allowances, and we’re getting a new pound coin.

That’s not all though. Voucher scams, benefits caps and a debt collection company writes off millions of pounds worth of debt. Well, I did say things had been happening! There’s a lot to catch up on, so you’d better read on…

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July’s money and debt news

posted by in Bailiffs, benefits, Debt, Debt Law Leave a comment

It’s been over a month since the Brexit vote, and we’ve been busy looking at how it could affect your finances if you’re in debt

July has also seen increases to the cost of bankruptcy  in England and Wales, Universal Credit being pushed back, and the release of our latest report, looking into which organisations are the most unfair when dealing with people with debt problems.

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April’s debt and money news

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April’s debt and money news has an ongoing theme of change. With changes to benefits, the way you apply for bankruptcy and the National Living Wage being introduced for those over 25, it’s all happening.

We’ve also got highlights from two of our recently released reports that give us an insight into problem debt in the UK.

That’s not all, it also turns out that we’re still confused by our energy bills and find out why 50 Cent is in trouble yet again with the judge dealing with his bankruptcy…

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How will the April 2016 benefit changes affect my DMP?

posted by in benefits, DMP 22 Comments

UPDATE 17 March: Further benefit changes have been announced since this article was original published in February, and the article has been updated with further details. Our benefits checker can tell you what benefits you may be entitled to. 

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The government plans to reduce benefits spending by £12bn by 2020. There are two questions that are likely to be on your mind if you’re on a debt management plan (DMP). Firstly: which benefits are going to be affected? Secondly: how will these changes impact my finances and my DMP?

Another question that you could have been concerned about Tax Credits, but that was answered in the Autumn Statement. The chancellor George Osborne made a U-turn on his proposals for Tax Credits changes FOR April 2016, but there are still changes to come in 2016 and 2017, and equivalent changes in Universal Credit.

We’ve summarised the biggest changes, when they’re going to happen and who’s likely to be affected by them. We’ve then covered some likely questions that might crop up if you’re on a DMP.

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What are the 2016 benefit changes announced in the Autumn Statement?

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UPDATE: This article was published in November 2015. Make sure you’re up to date with the 2016 benefit changes and how they may affect you. 

If you’ve been worried about the effects of the changes to tax credits due in the spring, then you’ll hopefully be breathing a sigh of relief today. The Chancellor George Osbourne announced a U-turn on the proposed changes in the Government’s Autumn Statement yesterday. But what else was announced during his 80-minute speech?

The Government’s Autumn Statement and Comprehensive Spending Review isn’t a page turner. But it affects the finances of a lot of people up and down the country. That’s why we asked our Policy team to try and explain the changes in language that even the MoneyAware team would understand.

At a glance it looks like this…

Potentially positive for you:

  • Reversal of tax credit cuts
  • Pension payments will increase
  • Extension of the Warm Home Discount to 2020-21

Potentially negative for you:

  • Changes to Universal Credit (UC) announced in the Summer Budget will still go ahead from 2016-17

Other things to be aware of:

  • There are changes to benefits paid to the self-employed
  • There are some small changes to JSA ‘conditionality’

Let’s look at these in more detail…

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How will upcoming benefits changes affect my DMP?

posted by in benefits, DMP 24 Comments

UPDATE: This article was published in July 2015. Make sure you’re up to date with the 2016 benefit changes and how they may affect you.

The July Budget revealed plans to reduce welfare benefits by £12bn. There are two questions that are likely to be on your mind if you’re on a debt management plan (DMP). Firstly: what benefits are going to be affected? Secondly: how will these changes impact my finances and my DMP?

We’ve summarised the biggest changes, when they’re going to happen and who’s likely to be affected by them. We’ve then covered some likely questions that might crop up if you’re on a DMP.

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