Demsa

DEMSA update: MaPS contracts / Ofgem / Credit Information Market Study / SDRPs / Personal Insolvency Reform / Financial Promotions / Events

General update Last call for responses to the MaPS deficit budget consultation. This is an important consultation where those with good trending MI need to respond. The purpose of this MaPS call for evidence is to understand what help can, or could, be offered where a client presents with a deficit budget, as well as what MaPS can do to enable this help to be given. This is obviously a really important topic impacting the whole… Read more

DEMSA update: Mixed Messages / Autumn Statement / Private Rent / Insolvency Stats / Events

In today’s bulletin General updateMixed Messages event at FCA – 15/11Insolvency StatsEvents General update The Autumn Statement dominated economic and political events this week, where many of the pre-event interviews and releases meant that there weren’t many surprises on personal tax and budget cuts for government agencies. The NHS came out better than I thought. Local councils seem to be taking advantage of the 5% allowable rise for council taxes. How tailored forbearance will actually… Read more

DEMSA update: General update / Financial promotions / Training / Events

In today’s bulletin General updateFinancial promotions in focusTrainingEvents General update Talk Money Week We have come to the end of Talk Money Week and MaPS has been featured strongly during the week along with a number of posts on LinkedIn and other media. On 10 November, MaPS issued a press release with the headline “Rising cost of living sees over 11m people seek money help in the last 3 months”. I sometimes have a problem… Read more

DEMSA update: FCA report / MALG conference / Interest rates / Consumer Duty / Events

General update The interest rate rise by 0.75% to 3% was not unexpected, but will result in many mortgage holders being worried about what this means to them in 2023 and beyond. StepChange has commented on this and Karl Handscomb, Senior Economist from the Resolution Foundation, painted a fairly gloomy picture for the next couple of years at the MALG Conference as part of an interesting keynote alongside the FCA. At present, around 15% of… Read more

DEMSA update: Consumer Duty / PRIN 2A / Insolvency Stats / DRO update / Training / Events

In today’s bulletin General updateFCA speechTrainingIndividual Insolvency Statistics: July to September 2022DROs – guidance for debt advisersEvents General update New PM, Rishi Sunak, has delayed the government’s planned fiscal statement until 17 November as he seeks more time to make the “right decisions” on managing the British economy. Stability is key for both the markets and UK citizens, where consumer confidence remains low. StepChange has set out their top 3 asks of the new PM.… Read more

DEMSA update: Consumer Duty / Financial Lives / Cost-of-Living / Risk Coalition / Events

In today’s bulletin General updateFCA Financial Lives ‘selected’ updates from 2022 surveyTrainingEvents General update    ONS stats show that the UK’s inflation rate has returned to 10.1% in September 2022 matching July’s 40-year high. Aside from consumer confidence, the Federation of Small Business has stated that confidence among small business owners has fallen to its lowest level since the Covid-19 lockdowns. Link: https://www.moneyadvicetrust.org/latest-news/no-let-up-in-sight-for-millions-of-households-as-inflation-rises-again/ Link: https://www.credit-connect.co.uk/news/more-than-600000-firms-in-financial-distress/ It comes as no surprise that The Bank of England… Read more