Monthly Archives: May 2015
Almost one half of personal loans in Scotland repay other creditors
With the continued crackdown on payday lenders across the UK, the credit unions in Scotland are making more of an effort to step in an offer additional services to consumers. They are reaching out to…
Eight percent of Scottish spend 20% of their income on fuel bills
There are three levels of fuel poverty in Scotland and across the UK. They include basic, severe, and extreme. A recent survey shows that anywhere from 30 to as many as 35% of households are…
QuickQuid license under review by Financial Conduct Authority
The nation’s main regulatory watchdog FCA (Financial Conduct Authority) is assessing the operations of QuickQuid. The lender only has a virtual mailing address in North London, and its main office in the city is being…
Financial Conduct Authority bans debt management firms
Three debt management companies have been banned by the Financial Conduct Authority from offering their services. The firms impacted include Clear View, Haydon Associates Debt Management Consultants, and also Sterling Financial Security. The companies were…
Wonga makes changes to their payday loan practices
The largest payday firm operating in the UK, Wonga, has created a new advert campaign. It will be telling consumers about the changes that the company is making to their services. Not only do they…
85% of recent welfare cuts hit women on a low income
Over the last five years the government has reduced the local as well as national welfare schemes and other benefits by about £26bn. Of that amount, about 85% of the cuts have impacted programmes in…
Paydayparty warned by the Financial Conduct Authority
The online payday company, Paydayparty.co.uk, which issues loans at a Representative APR of as high as 1735% has been warned by the Financial Conduct Authority that they have not been authorised to operate in the…
One third of usage of food banks in 2014/15 in Scotland is from children
Additional figures show that food bank usage across Scotland is increasing at a very high rate and that around 30% of the people requesting a parcel are in fact children (or they are households with…
Vulnerable and homeless being moved out of London
The numerous councils across London are moving the vulnerable population further away from where they currently live due to various housing challenges. It is estimated that as many as 50,000 people have been resettled, and…