Debt

Many customers of Erudio – the firm which manages some pre-1998 mortgage style student loans – have been left baffled over the last few days after receiving debt demands with old dates on them.

More than 4,500 customers of debt management firm Harrington Brooks will be paid redress after the Financial Conduct Authority (FCA) found communications from the firm to creditors on some customers' behalf were delayed.

People taking out payday loans will never have to pay back more than double what they originally borrowed, the Financial Conduct Authority (FCA) has announced today. While MoneySavingExpert.com welcomes this move, it is disappointed that the loan cost cap isn't lower.

The number of people struggling to cope with payday loan debts has risen by more than 13,000 in the past year, new figures show.

Halifax, Lloyds TSB and NatWest have been exposed as being as bad as Wonga when it comes to sending customers misleading debt demands purporting to be from external solicitors or debt collection firms.

NatWest and Halifax are the latest firms we've found to have sent misleading payment demands purporting to be from independent debt collection agencies.

High cost short-term lender Provident is the latest firm MoneySavingExpert.com has found using dubious 'legal' tactics to pressurise customers into repaying their debts.

MoneySavingExpert.com has seen another, even more disingenuous letter sent by Npower that purports to be from an external debt recovery firm.

Complaints about payday lenders have more than doubled in the last two years but the "stigma" associated with the industry is preventing many more from lodging complaints, the Financial Ombudsman Service says.