MoneySavingExpert News

Debt

Mis-sold an Amigo loan? Redress could soon be on its way after High Court approves complaints scheme

A compensation plan put forward by Amigo Loans to return at least £112 million to borrowers it wrongly mis-sold high-interest loans to has today (23 May) been approved by the High Court. The move is a significant win for borrowers and follows a previous proposal that was rejected by the Court.

17 October 2022

Barclays removes overdrafts if they've not been used by some customers in over a year - here are your options and what we know

Barclays customers have voiced concerns after being given just one month's notice that their "safety net" overdrafts will be removed during the cost of living crisis. The bank has admitted that it's cancelling overdrafts for some users who haven't dipped into them in for at least a year.

22 August 2022

Watch: Martin Lewis issues stark warning to Tory leadership candidates to act over 'financial time bomb' in video open letter

MSE founder Martin Lewis warns Conservative Party leadership hopefuls that they must act as quickly as possible to prevent a "national financial cataclysm".

19 July 2022

New Government-backed interest-free loan scheme to be rolled out across the UK from September – here’s how it works

Vulnerable people who have been rejected from borrowing will apply to apply for a one-off no interest loan scheme (NILs) from September. The scheme aims to reach 20,000 struggling to pay off debt, with them being able to borrow anything from £100 to £2,000 – here’s how it’ll work.

23 June 2022

Thousands of Amigo borrowers expected to get back less than half of what they're owed - but it's more than the payouts initially proposed

Thousands of Amigo borrowers, who were mis-sold loans they couldn't afford, are expected to get back less than half of the interest and fees they were charged, it's been revealed.

15 December 2021

How to borrow at 0%, ie, no cost (or as close to it as possible) – Martin Lewis's cards, loans, buy-now pay-later and overdrafts masterclass

Borrowing is dirt cheap right now, with the cheapest ever loan rates, the longest 0% spending card we've seen since mid 2020, and many more best buys.

30 November 2021

Urgent action called for as mental health sufferers consider or attempt suicide after finances hit during the pandemic

People with mental health problems have faced a much bigger hit to their finances during the pandemic than the wider population and are three times more likely to have fallen into serious debt, according to the results of a major national survey published today.

24 November 2021

Buy now, pay later users may be able to take complaints to the Financial Ombudsman under new Government plans

Shoppers using buy now, pay later (BNPL) services may be able to take complaints to the Financial Ombudsman Service in future, as well as claim refunds using Section 75 protection, under new Government proposals.

21 October 2021

The vast majority of MoneySavers have more in savings than they owe in debts, finds new MSE poll

The vast majority of MoneySavers are worth more than they owe, a new MoneySavingExpert.com poll has found. But this varies by age.

8 September 2021

15 gold medal MoneySaving successes of 2021 - including £7,000 council tax back, £22,000 competition win, £250 WFH tax claim

As many feel moved by Team GB's recent Olympic success, we hope to inspire you to overcome your financial hurdles and achieve a knockout MoneySaving victory by celebrating 15 of our users' best successes of 2021. Some require you to go the extra mile (for a big reward), others are swimmingly easy. On your marks, get set, go...

17 August 2021