News
OFT warning regarding unenforceable debt claims
01 December 2010
The Office of Fair Trading (OFT) has recently published a guide warning consumers of the misleading practice of businesses that claim to be able to use sections 77/78/79 of the Consumer Credit Act 1974 to wipe out their debts.
Fall in number of mortgage writs in Northern Ireland
22 November 2010
The Court Service of Northern Ireland have reported a fall in the number of people being taken to court for failing to pay their mortgages.
Christmas debt and the GRINCHs
02 November 2010
A recent report from the Co-operative Financial Services (CFS) has introduced us to a little known group - the GRINCHs - and why they in particular are the most likely to end up with post Christmas debt problems.
New report reveals only 4 in 10 keeping up with bills
27 October 2010
A report released this month by the Consumer Council has revealed the extent of the financial problem facing Northern Ireland consumers, documenting that only 4 in 10 of respondents in a recent research study are keeping up with bills and credit without difficulty.
OFT takes action to address problems in debt management industry
28 September 2010
The OFT has told 129 debt management firms that they face losing their consumer credit licenses unless immediate action is taken to comply with its Debt Management Guidance.
Bank Charges – Reclaiming Opportunity Still Exists.
22 September 2010
Rumours of the death of bank charges reclaiming have undoubtedly been exaggerated. The opportunity to challenge the imposition of bank charges on current or closed bank accounts has survived beyond the shock Supreme Court ruling in November 2009, especially for those in financial hardship.
Rate arrears reach record levels
30 July 2010
Rate arrears in Northern Ireland have reached record levels of more than £157m. The economic downturn has made it even more difficult to recovery these arrears during the usual in year policy (over 10 months)
Financial Help with Mortgage Repayments
26 July 2010
If you are struggling with your mortgage repayments they are a number of schemes and benefits available to assist people who are on low incomes and struggling financially.
High-cost credit review published by OFT
19 July 2010
The OFT published a report on 15th June 2010 of its review of the £7.5 billion high-cost credit sector.
Significant improvements in unarranged overdrafts
02 July 2010
The banking industry has made significant improvements to unarranged overdrafts which are expected to take place over the next two year. These changes are a result of an Office of Fair Trading study in 2008 after it identified major problems such as difficulties switching accounts, that costs were not transparent and the way that unarranged overdrafts function.
