DEMSA update: Problem debt / Transforming data collection / Financial crime / Insolvency / Collaborations / Events

In today’s bulletin:

General updateUK Finance publishes report to facilitate commercial VRPThe changing landscape for IVAs and Creditor Voting – virtual event on 1/5/2024MoneyPlus problem debt event – 24/4Individual insolvency stats – March 2024Transforming Data Collection (TDC)Financial Crime is changing – updated FCGICO warning to firmsCollaborationsEvent feedback

General update

One in five StepChange clients who are in work unable to make ends meet

A new report entitled ‘In work but still in debt’ from StepChange has found that 21% of their clients in full-time employment are in a deficit budget even after full debt and budgeting advice.

In 2021, 38% of StepChange clients seeking debt advice were full-time employed (FTE), however, by December 2023 that proportion had reached 44%, a rise of 16%. The proportion of clients in full-time employment in March 2024 was 42%, which is 1% lower than the previous calendar month (43%), yet 2% higher than March 2023 (40%). The...

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