News

Wonga to write off over £200 million in debts

Date: 02 October 2014

After putting in place new affordability checks Wonga is to write off loans for 330,000 customers who would not have passed them.

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Energy regulator studying companies debt letters

Date: 23 September 2014

The energy regulator, Ofgem, is to instigate a review of the letters energy firms send to their customers in debt due to concerns they could be misleading.

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Debt management companies must improve reveals the Financial Conduct Authority

Date: 23 September 2014

The Financial Conduct Authority (FCA) is investigating a number of debt management firms and has warned the sector that it needs to ensure customers in financial difficulty are adequately protected.

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Complaints against payday loan ‘brokers’ double

Date: 19 August 2014

A report from the Financial Ombudsman Service (FOS) states that they have received over 10,000 complaints from customers regarding payday loan middlemen since January this year.

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Payday loan cap proposed.

Date: 15 July 2014

The Financial Conduct Authority (FCA) has proposed that payday loan rates be capped from January 2015.

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