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Personal > Debt Management


HMRC rated worst for debt collection practices

HMRC has been rated as the worst organisation for debt collection in a league table of best practice published by Citizens Advice. Read full story


Debt advice firm director banned

A debt management company boss has been disqualified as a director for 11 years, after he mislead customers and declared a £330,000 dividend to shareholders amid a torrent of complaints. Read full story


Individual insolvencies notch up in Q3

The number of individual insolvencies increased nearly three percent in the third quarter to more than 19,000, according to the latest official figures. Read full story


FCA to set spring 2018 as final deadline for PPI complaints

The Financial Conduct Authority (FCA) has proposed a final deadline of spring 2018 for all payment protection insurance (PPI) complaints to be made against firms. Read full story


DEMSA announces merger with debt advice body

The Debt Managers Standards Association (DEMSA), a trade body for debt management and IVA firms, has today announced a merger with another trade association. Read full story


Advice projects on track to help 370,000 debtors

Debt advice organisations helped more than 91,300 people with money problems during the second quarter of 2015, according to the Money Advice Service (MAS). Read full story


FCA: “Debt management firms still failing UK consumers”

The debt management sector is still failing the UK’s most vulnerable consumers, according to a review published today by the Financial Conduct Authority (FCA). Read full story


Debt management firm agrees to FCA order

A debt management firm has agreed with the Financial Conduct Authority (FCA) to stop taking on new clients and arranging new payment plans. Read full story


Insolvency Service outlines plans for bankruptcy orders

The Insolvency Service has confirmed that when debtors petition for bankruptcy online in future they won’t need sign off from an insolvency practitioner. Read full story


County court judgments increase 20%

The number of county court judgments (CCJs) against consumers in England and Wales has increased more than 20 per cent to over 209,000. Read full story


FCA removes permission of three debt management firms

The Financial Conduct Authority (FCA) has stopped three debt management firms from offering debt advice services, after it discovered their customers were paying 90 per cent of monthly payments in fees. Read full story


FCA finds debt collection failures in every payday lender

The Financial Conduct Authority (FCA) has discovered “serious non-compliance” and unfair debt collection practices in every payday lender that it has reviewed. Read full story


Debt management firm acquires Kensington

Debt advice firm PDHL has acquired Kensington Financial Management Consultants from its owner, Money Advice Group, for an undisclosed sum. Read full story


Forbearance cover ramps up at Barclaycard

Barclays has revealed that bad debt losses at Barclaycard increased to £573m in the final quarter of 2014, due to extra forbearance cover. Read full story


MAS to implement peer review system

The Money Advice Service (MAS) is to roll out a peer review scheme to assess the performance of debt advisors in organisations across the UK, and make suggestions for their development. Read full story


MAS announces more money for debt advice

An extra 60,000 people in England and Wales will receive free debt advice for this year through a new injection of funding to The Money Advice Service (MAS). Read full story


Government to review DRO process and bankruptcy threshold

The government has announced a review into the Debt Relief Order (DRO) process, five years after its introduction in England and Wales. Read full story


Personal finances lag behind economic recovery

43% of British adults disagree with George Osborne’s claim that the UK economy has moved to ‘rescue to recovery,’ according to research from insolvency trade body R3. Read full story


Debt advice directors disqualified

Two directors of debt advice firm Smart Credit & Debit have been banned for a total of 12 years following an investigation. Read full story


DMP protocol: The industry reacts

The leading financial services trade bodies have issued a series of statements today on the launch of the debt management protocol. Read full story