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Debt News (General Election Edition)

     ***General Election Edition*** Monthly Debt News looks at debts and the causes of debts in Britain from various sources selected for professionals to make the debt sector simple.   This month’s Debt News British General Election edition of Debt News will look at UK's fiscal rules and IMA forecast on UK's insurance cuts and debt, £3 trillion timebomb for national political party leaders and local council finances. You will find bitsize data to give a snapshot of the national economy and you can catch up with previous monthly Debt Talk podcasts.  ——————— National Debt News  ——————— The UK’s public finances: is it time to reform the fiscal rules? Boosting economic growth while maintaining sustainable levels of public spending is a huge policy challenge for the UK. The government’s self-imposed fiscal rules may themselves act as a constraint. Reforming the rules could help to revive the country’s stagnant economy More here: Link  ——————— Public finances and the 2024 general el
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Debt Talk: UK waters & our bills

  Thames Water considered a rise of 40% whilst its parent company is on the verge of liquidation. Southern Water requested Ofwat last October to increase its bill to consumers by 66% on top of the rise in inflation. In this month's Debt Talk podcast, Ripon Ray explored 'UK waters & our bills’. Eugenio Vaccari - Senior Lecturer from Royal Holloway, University of London , who researches sustainable restructuring procedures, explored the legal framework in which Thames Water and its parent company work and the potential challenges faced from the perspective of shareholders, government and sustainability of the water companies for the public interest. Andrew White - Senior leader for Social Policy of the C onsumer Council for Water which represents the interest of consumers in the water sector explained the impact of the rise in cost for vulnerable communities and explained that there is a genuine need to have a social tariff to support struggling consumers. He a

Debt News (May 2024)

    Monthly Debt News examines debts and the causes in Britain from various sources to simplify the debt sector. This month’s Debt News includes Halifax increasing mortgage rates, Thames Water warning of an increase in water bills, a housing association encouraging workers to take on debt, the court fined a driver for driving the wrong way, and a mother challenging an unfair penalty charge. You can catch up on bite-size debt states and monthly Debt Talk podcasts.  ——————— Debt News  ——————— Britain’s biggest mortgage lender Halifax among major banks to increase rates Britain’s biggest mortgage lender Halifax has become the latest brand to reveal it will increase mortgage rates this week, following a slew of other hikes earlier this week. More here: Lin k  ——————— Thames Water warns of even bigger surge in bills under new plan Thames Water wants to bring bills up to at least £608 a year by 2030 - and possibly even higher More here: Link  ——————— Housing association 'encouraging staf

DRO tricky updates for debt advisers

What is the debt advice sector saying about DRO? I am sure you have heard of the abolition of £90 if a Debt Relief Order Intermediary administers a Debt Relief Order (DRO) with the Insolvency Service to write off qualifying debts on behalf of debtors. This is undoubtedly a positive outcome for many who have recently been under the mercy of many Individual Voluntary Arrangement providers. To make it clear, this abolition came into effect on 6th April 2024.  Other noticeable changes have been introduced with the DRO, and the debtor may have to wait a bit longer. The maximum amount of qualifying debts will increase to £50,000 and the cost of an increase in a vehicle to £4,000, and they are to come into effect on 28 June 2024. Anyone who knows about DRO will know that the qualifying debts were no more than £30,000 before these changes were implemented. The vehicle's value must be less than £2,000 unless it is specially adapted due to disability. Moreover, any assets the debtor owned mu