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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


I&R Awards judges share their tips on entries

I&R Awards judges from the UK’s largest insolvency firms and recognised professional bodies (RPBs) have shared tips with readers on how to write winning entries. 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


Lloyds’ bad debt losses drop nearly 60%

Lloyds Banking Group has revealed that its impairment charge for the first quarter of 2015 has fallen 59 per cent to £177m, compared to a year ago. Read full story


Personal insolvencies plummet to a 10-year low

Individual insolvencies in England and Wales have fallen to their lowest levels since 2005, amid low inflation, unemployment and interest rates. Read full story


The I&R Awards 2015: Why we’ve changed the name

The insolvency profession’s most prestigious awards scheme has undergone a name change – to The I&R Awards 2015: Championing best practice in Restructuring, Recoveries and Rescue. 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


Court fees rise up to 600%

Civil court fees for money claims over £10,000 have risen to five per cent of the value of the claim. 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


Trustees in bankruptcy can ‘Facebook’ no-shows

Insolvency practitioners can now notify bankrupts of orders made against them by simply posting on their Facebook page, when debtors ignore proceedings. 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


Personal insolvencies at nine year low despite IVA increase

Statistics released by the Insolvency Service show there were fewer personal insolvencies in England and Wales in 2014 than in any year since 2005. Read full story


Bankruptcy and DRO changes to ease debt burdens

Charities and groups working with the indebted have welcomed government plans to enable easier access to debt relief for financially vulnerable people. Read full story


Former Rangers FC director disqualified for 15 years

The ex-director of Rangers FC, Craig Whyte, has been disqualified from acting as a company director for the maximum period of 15 years. Read full story


Burglar alarm bosses banned for 39 years

Five directors of a burglar alarm firm have been disqualified for a total of 39 ½ years for using sales tactics which “breached consumer legislation”. 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