Tag: Citizens’ Advice Bureau

OFT warns Wonga over debt collection methods

OFT warns Wonga over debt collection methods

Payday loan company Wonga used aggressive and misleading methods to collect debts from customers, the Office of Fair Trading (OFT) has found. Wonga sent letter and emails to certain customers suggesting they had committed fraud and threatening to report them to the police if they did not act in the way Wonga suggested. The company [...]

May 22, 2012 | 0 Comments More
Fuel poverty soars amid higher energy prices

Fuel poverty soars amid higher energy prices

Statistics from the Department of Energy and Climate Change have revealed that fuel poverty has more than doubled in the last five years amid rising energy prices. Anyone spending over 10% of their household income on heating their homes are said to be in fuel poverty. The figures show that an increasing amount of people [...]

October 14, 2010 | 0 Comments More
Debt management firms play on money fears

Debt management firms play on money fears

Consumers struggling to manage their debts risk falling prey to expensive debt management companies, moneysupermarket.com warned this week. Research by the price comparison site found that 20,000 people are signing up to debt management plans every week in an effort to get their finances under control. Many are using free services such as the Citizen’s [...]

February 5, 2010 | 0 Comments More
Soaring numbers calling CAB with debt problems

Soaring numbers calling CAB with debt problems

Research has revealed that the number of people contacting the Citizens Advice Bureau (CAB) for help with debt problems has surged by 20% in the last 12 months. The independent charity, which was established 70 years ago to help people with war-related problems, provides information and advice to help people with their money, legal, consumer [...]

December 2, 2009 | 0 Comments More
CAB sees increase in fuel debts

CAB sees increase in fuel debts

The Citizens Advice Bureau (CAB) said there is a growing increase in the number of consumers struggling with fuel debts. During April to September 2009, the CAB in England and Wales reported a 46% increase in the number of clients with fuel debts compared to the same period a year ago. David Harker, chief executive [...]

October 21, 2009 | 1 Comment More
Thousands call CAB each day with debt problems

Thousands call CAB each day with debt problems

The number of people struggling with debt problems has been highlighted by the Citizens Advice Bureau (CAB) after it emerged that the independent charity is taking around 9,300 new debt cases each day. The figures have been released to celebrate 70 years of the charity, which was originally established to help people with war-related problems. [...]

September 4, 2009 | 0 Comments More
Charging Orders – the latest threat to indebted homeowners

Charging Orders - the latest threat to indebted homeowners

The Citizens Advice Bureau (CAB) claims that lenders are increasingly threatening customers in England and Wales with charging orders, in attempts to intimidate debtors into making unaffordable repayments. A charging order is a means of securing an unsecured loan against equity in the debtor’s property. In a new report entitled “Out of order” the charity [...]

June 26, 2009 | 0 Comments More
Mental health of young people damaged by debt

Mental health of young people damaged by debt

Two documentary-style short films released this week aim to educate young people on how to avoid the debt trap. Produced by the Citizens Advice Bureau (CAB), the films were created in response to recent research highlighting the detrimental effect that debt worries have on the lives of young people. The study by YouthNet found that [...]

June 15, 2009 | 1 Comment More
‘Worrying gap’ in financial advice for over-50s

‘Worrying gap’ in financial advice for over-50s

The Citizens Advice Bureau (CAB) has warned of a “worrying gap” in the availability of affordable financial advice for people approaching retirement. People over 50 are often asset rich, but cash poor, and cannot afford to pay for the financial advice they need, the CAB said. Many people in this age group have complex questions [...]

June 12, 2009 | 0 Comments More
Debt worries mounting with recession

Debt worries mounting with recession

Consumers are increasingly struggling to pay off debts, according to figures released this week by the Citizens Advice Bureau (CAB). Debt enquiries to the Bureau increased 11% on year between April 2008 and March 2009, with the CAB advising 1.93 million people struggling to pay back debts. Redundancy enquiries during the same period soared by [...]

June 11, 2009 | 0 Comments More
OFT shuts down 13 debt advice websites for ‘misleading’ customers

OFT shuts down 13 debt advice websites for ‘misleading’ customers

The Office of Fair Trading (OFT) has shut down thirteen websites for misleading consumers. The watchdog said these debt management companies, which have not been named, are using website addresses similar to non-profit organisations and are deliberately misleading customers. Ray Watson, OFT credit director, said “We believe they are misleading consumers by holding themselves out [...]

March 8, 2009 | 0 Comments More
Average debt needs 93 years to repay

Average debt needs 93 years to repay

The average person seeking debt advice from the Citizens Advice Bureau (CAB) is nearly £17,000 in the red and would need 93 years to pay back the money at an affordable rate. This is compared to an average debt of £10,600 in 2001, and CAB expects the situation to deteriorate further in the year ahead. [...]

February 27, 2009 | 0 Comments More
CAB reports sharp rise in mortgage arrears enquiries

CAB reports sharp rise in mortgage arrears enquiries

Latest figures from the Citizens Advice Bureau (CAB) show a steep rise in the number of enquiries about arrears on mortgages or secured loans, over the past three months. The number of people falling behind with their homeloans and seeking help from the charity increased by 51% over the three months to the end of [...]

October 10, 2008 | 0 Comments More