Monthly Archives: June 2015
FCA reviewing for-profit debt management firms
During 2015, the FCA watchdog agency is taking a closer look at debt management firms that charge their customers a fee for the work they do. There are dozens of those agencies and hundreds of…
Child poverty rates as high as 40% in London
Tens of thousands of children that live in the city of London and outlying boroughs live in poverty. The rates vary widely from a low of 8% in Queens Gate to around 49% in Tower…
Private sector rents increase 4.5% to a new record
In another blow to the millions of families on some form of benefit or that are struggling to make a livable wage, the cost to rent a private sector home is at a new high….
One in four Wales families living in poverty
One out of every four people in Wales is living in poverty. When looking at children, the rates are even worse. The rates of the youth stands at 33 per cent. The country now has…
One quarter payday loan customers can borrow from banks
Citizens Advice will be reporting that up to one quarter of customers of payday loan firms could have turned to a bank for assistance instead. Many people do not know that there are other sources…
May benefits need to be repaid in the future?
Those people who are on welfare may need to someday repay the money given to them. This is an idea being floated by more and more Conservative Mps, including some influential ones such as Mr….
Payday firm TV ads are irresponsible per Bcap and FCA
The Financial Conduct Authority is warning payday lenders that they can’t promote using loans to pay for unnecessary expenses and they can’t tell consumers how quickly they can get cash. There has been an increase…
Wonga to help victims of scams
Many families on a low income that have been seeking a loan have been scammed by people claiming they were working for Wonga. This has been brought to the attention of regulators as well as…