FCA Warns Consumers Against Costly Debt Advice Schemes

Consumers struggling with mounting bills and missed credit card payments face additional financial risks from misleading debt relief services, the UK’s Financial Conduct Authority (FCA) has warned. The regulator urged people seeking help to use free, impartial advice and verify providers’ credentials before agreeing to paid solutions that could increase their financial burden. The Bank…

Philippine debt service bill plunges in August

By Justine Irish D. Tabile, Senior Reporter THE National Government’s (NG) debt service bill plunged by 88.55% in August as principal repayments fell sharply, the Bureau of the Treasury (BTr) said. The latest Treasury data showed debt service declined to P76.12 billion in August from P664.72 billion in the same month a year ago. Month…

Debt advice that may leave you owing even more money

The FCA says that some unregulated firms collect people’s details, through cold calling or online adverts, sometimes impersonating debt advice charities or debt collectors, and pass this information on to firms offering debt solutions that you pay for. A quick search online will throw up lots of businesses offering ways to clear your debt, not…