Tag Archives: debt law

How you helped us get Breathing Space back on the agenda

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This article was originally published on 10 March and updated on 24 May 2017.

In February, over 1,000 of our clients emailed their MPs asking them to support a Breathing Space scheme for people in debt in England, Wales and Northern Ireland*. If you helped, thank you.

A scheme like this would mean that when people in debt get advice they’d have fees, charges and interest on their debts frozen, along with a break from enforcement action. It would allow them time to sort out their finances without seeing their debts spiralling upwards. Continue reading »

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How much is your overdraft costing you?

posted by in Living with debt Leave a comment

Do you know how much your bank charges if you go into your overdraft or if you go over your limit? Many of our clients pay hundreds of pounds to their bank as a result of unarranged overdraft charges. In some cases it can be more expensive to go into unarranged overdraft than it would cost to take out a payday loan.

We’ve carried out research that shows that overdraft charges are adding to the debt worries of our clients and the costs of having an overdraft might be higher than you’d expect. We believe that the FCA should take action to limit unarranged overdraft charges. Continue reading »

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Bailiffs get a makeover: what’s going to happen?

posted by in Debt news 14 Comments

Bailiff changes

Bailiffs are changing

Bailiffs have been part of debt law in England and Wales for over a thousand years.  In fact the oldest law that’s still on the books in England, the 1267 Statute of Marlborough, concerns stopping bailiffs taking too much property.

Of course a lot has changed over the centuries and bailiff law has grown into a complicated subject. Now for the first time, the government have revised all of this legislation, and starting from April 6th bailiff law in England and Wales enters the 21st Century.

(Nothing’s changing if you live in Scotland or Northern Ireland though. The laws there are nowhere near as convoluted as bailiff law in England and Wales!)

If you’re worried, we can provide expert bailiff advice. Here are a few of the questions we get asked about this much-maligned profession, and what the changes in April will mean to you.

Continue reading »

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Overpayment of benefits – are you getting too much?

posted by in Budgeting 15 Comments

filling in tax credit forms can be daunting

Filling in tax credit forms can be daunting

You’ve had a gut feeling you’ve been receiving more unemployment benefit, tax credits or council tax discounts than you may be entitled to for some time now.

The tax office mentioned something about letting them know straight away if you have a change in circumstances. But a few more pounds a week in benefits are far from ‘public enemy number one’ material, right?

If you don’t know a lot about the tax system and how it works it can be downright bewildering. You might end up thinking, “surely they won’t know I’m getting more than I should? Even if they did, what could they do about it?”

As it turns out, there’s a lot they can do about it. Don’t worry, there’s also something you can do to put things right.

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How do other people’s debts affect me?

posted by in Living with debt 164 Comments

If you're accepted for credit, it's down to you

If you’re accepted for credit, it’s down to you

Credit ratings appear to have such an elevated sense of importance these days. Whether it’s because you want to get a mortgage in the future or because you worry about what’s round the corner and want the ability to borrow if and when you need to.

So you’ve done your best to keep up to date with your credit repayments, and tried not to default in the hope that it will give you a pristine credit rating. But we all know that credit ratings are dependant on lots of different things and being accepted for credit is never guaranteed, especially in the current economic climate. Continue reading »

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Default notices – what are they and what do they mean?

posted by in Living with debt 57 Comments

Letters demands

You keep getting letters, but what do they mean?

Receiving a default notice through the post can be quite stressful and not knowing what this means can add to the pressure you’re already under. Let us help put your mind at ease and explain what it actually means.

A default notice is a formal letter which is usually sent after three to six missed payments. They can only be issued for debts that are regulated by the Consumer Credit Act.

Continue reading »

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