Tag Archives: pensions

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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May’s top debt and money news

posted by in Debt Leave a comment

Debt news title and newspaper on purple background

Know your rights

There’s been some troubling news this month with devious happenings coming to light that involve pension scams to con innocent folk out of their cash.

Not to mention controversial rip-off letting agency fees making renting a new home cost a small fortune and confusing energy bills bamboozling us into potentially paying more than we should.

On top of all that, we keep signing up to things, forgetting about them and continuing to pay for services we don’t use. How did it come to this? Luckily, we’ve gathered stories on each topic to help avoid such nightmares. Have a good read and make sure you know your rights.
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