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Personal > IVAs


Debt purchaser agrees redress package

A debt purchase and collections firm has agreed with the Financial Conduct Authority (FCA) to provide redress to more than 500,000 customers for historic failures in its due diligence and collections process. Read full story


FCA makes pledge to improve authorisation process

The Financial Conduct Authority (FCA) has launched a five-step plan to improve how it communicates with companies undergoing the full authorisation process. Read full story


89 debt management firms in limbo over FCA authorisation

A total of 89 commercial debt management firms are still waiting to find out if they will be given full authorisation from the Financial Conduct Authority (FCA). Read full story


Government and councils have “most unfair” debt collection practices

Government departments, local authorities and bailiffs are among the most unfair when it comes to the treatment of people in problem debt, according to a new report from StepChange Debt Charity. Read full story


FCA bans payday lender and director for “lacking integrity”

A payday lender and its owner have been banned after the Financial Conduct Authority (FCA) discovered “reckless” practices across the business. Read full story


Google’s payday loan advert ban: Industry reacts

Trade bodies representing alternative lenders have responded to Google’s policy to ban payday loan adverts from its systems. Read full story


Debt management firm director handed suspended jail sentence

A director of three debt management firms has been sentenced to 15 months in prison, suspended for two years, after being found guilty of fraud by abuse of position. Read full story


Barclays tops FCA league with 280,000 complaints

Barclays was hit by more complaints than any other financial services firm in the second half of 2015, as more than 279,000 customer grievances flooded into the bank. Read full story


Shortlist announced for Credit Awards 2016

The finalists for the 2016 Credit Awards sponsored by TDX Group have been announced, following an extensive shortlisting process across the scheme’s 27 categories. Read full story


1st Credit announces changes to management team

Debt purchaser 1st Credit has announced changes to its management team as it focuses the business for 2016. Read full story


Industry responds amid reports of Money Advice Service closure

A trade association in the debt advice sector has responded to reports that the chancellor is about to scrap the Money Advice Service. Read full story


Debt defaults could leave 4.7 million households in arrears by 2020

Consumer debt defaults will rise by 17 percent during the next five years, leaving 4.7 million households in arrears by 2020, according to a forecast from Arrow Global. Read full story


Individual insolvencies fall to lowest level since 2005

The number of individual insolvencies across the whole of 2015 fell 19 percent to 79,965 – their lowest annual level for a decade. Read full story


Knightsbridge snaps up insolvency cases of debt management firm

Knightsbridge Insolvency Services, part of the Money Advice Group, has acquired all the insolvency cases from Personal Debt Help Line (PDHL) – a Cheadle-based debt management firm. 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


The rising tide – insolvency rates peak in seaside towns

Personal insolvency rates peaked in seaside resorts, Merseyside and the north east throughout 2014, according to The Insolvency Service. 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


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