Demsa

DEMSA Column: IS warnings / FCA update / Scams & Fraud / AI / Dealing with Problem Debt / Collaborations / Events

In today’s bulletin: General update IPA conference – 28/11/2024 There’s NO EXCUSE for economic abuse Tackling problem debt by CAP and Citizens Advice Collaborations Events General update According to the Bank of England, net borrowing of mortgage debt by individuals rose by £0.9 billion, to £3.4 billion in October 2024. Net consumer credit borrowing by individuals was £1.1 billion, slightly down from £1.2 billion in the previous month. StepChange has responded to the announcement with words of caution. The inflation… Read more

DEMSA Column: IVA statistics / Breathing Space / Data Sharing / Vulnerability / Collaborations / Events

In today’s bulletin: General update Personal Insolvency in England & Wales in October 2024 Why are we seeing a downward trend in the use of Breathing Space? Data protection is not an excuse when tackling scams and fraud Collaborations Events General update The Office for National Statistics (ONS) has published its latest Consumer Prices Index (CPI), which shows the rate of inflation rose to 2.3% in the 12 months to October 2024, up from 1.7% in September 2024. ONS also… Read more

DEMSA Column: Charging CMCs / early IVA failures / Redress system / Cost of compliance / Dealing with debt / Vulnerability / Collaborations / Events

In today’s bulletin: General update Cost of Compliance – follow-up – CSA report Options for dealing with your debts Call for Input: Modernising the Redress System PayPlan first IVA volume provider to fully adopt IVA Integrity Score Privacy Enhancing Technologies: cost-benefit awareness tool Collaborations Events General update Why are mortgage rates going up? This is a question that the BBC has posed when the Bank of England rate has gone down. About 800,000 fixed-rate mortgages, currently with an interest rate… Read more

DEMSA Column: IVA FOI request / Ofwat / PS24-2 / Debt Functional Standard / Online architecture / Collaborations / Events

In today’s bulletin: General update Government Debt Function Standard update   Online Choice Architecture practices can undermine consumer choice and control over personal information IVA terminations by duration, and by debtor age and gender, England & Wales, 2014 to Q3 2024 PS24/2 - Borrowers in Financial Difficulty - live from 4/11/2024 Setting up 2-Step Verification (2SV) Ofcom - how the UK’s Online Safety Act will apply to Generative AI and chatbots Collaborations Events General update The headlines were the interest… Read more

DEMSA Column: FCA Call for Input / Cost of compliance / ICO / AI governance / Complaint handling / Training / Collaborations / Events

In today’s bulletin: General update Cost of compliance IPA update on protecting consumer interests FCA questionnaires for lenders and debt buyers around CIMS Collaborations Events General update The headline topic was the Budget. Peter Tutton pictured below, putting a brave face on. Peter from StepChange was quick out of the blocks with budget headlines that are actually beneficial to consumers alongside the new funding for pothole repairs. This should be good news for some consumer segments and for the debt… Read more

DEMSA Column: CP24-19 / Vulnerability / Consumer Duty / CX / Cyber / Collaborations / Events

In today’s bulletin: General updateCP24/19 submissionsVulnerability is not a buzzwordOmbudsman update – H1 2024 complaintsCollaborationsEvents General update PayPlan respond to The Insolvency Service report on early IVA failures PayPlan reinforced the DEMSA position to The Insolvency Service and the FCA that there should be a distinction in the report between FCA-regulated debt solution providers and debt-packagers, as defined by the FCA under PS23/5 (debt packager rules). They have also confirmed that they are an early adopter of the Consumer Duty… Read more