WADA and the Centre for Responsible Credit have submitted a joint response to the HM Treasury consultation concerning the Consumer Credit Act Review. We do not support the proposal to remove statutory consumer protections and replace these with rules made by the Financial Conduct Authority (‘FCA’). The FCA is not effectively enforcing existing rules, and there should always remain a right of redress for consumers through our legal system.

Richard Holland (writing in a personal capacity) warns that proposals to reform the Consumer Credit Act 1974 and substitute legislation with FCA rules and guidance could seriously impact debtor’s rights.

Responding to a recent Freedom of Information request from WADA, the Money and Pensions Service (MaPS) has revealed that grants for debt advice services in England are facing a cut of over 20% in real terms.

Community based debt advice services are facing cuts of 10%. At the same time, demand is rising, and cases are becoming more complex. Our new briefing reports how front-line workers are facing enormous pressures, and that services are now at breaking point. That’s why we have called on the Money and Pensions Service to reverse its proposed cut and for a Parliamentary inquiry into their failed commissioning strategy.