Seven million UK residents due CPP refunds

Credit cardsHave you purchased a credit card and identity protection policy since 14th of January 2005? If so, you could be one of seven million people in the UK eligible for a refund, due to mis-sold protection products.

The Financial Conduct Authority, the Card Protection Plan Limited (CPP), as well as 13 high street banks and credit card issuers, have reached an agreement, which will see consumers who were wrongly sold a CPP product, get compensated.

Exactly how much money those being refunded might get back will depend on the product they purchased, and the amount of time they had it for. However, the average customer can expect to receive £185.

Source: uSwitch.com

We get by with a little help from our friends…

I O U noteOr quite a lot of help, as the case may be – with UK households reportedly borrowing around £2,000 each from family and friends in order to make ends meet.

According to the Aviva Family Finances Report, the average household debt has risen by 40 per cent, from £9,000 a year ago to £13,000 now, with around £2,000 of the latter being owed to family and friends.

If you are thinking of borrowing money from someone close to you, it might be worth checking if there is a better solution to help you get on top of your finances.

Have a look at the Debt solutions and Important information pages on our Turn Debt Around website, or call us on 0131 777 3039 for a friendly, impartial, no strings chat.

Source: BBC News

HMRC warns of tax credits email scam

Beware of tax credits email scam

Beware of tax credits email scam

Do you receive tax credits? If so, beware of scam emails from fraudsters who want to get their hands on people’s credit card details and passwords.

The HMRC (HM Revenue & Customs) has warned that around 22,000 so-called ‘phishing emails’ were reported between April and July last year, by people who receive tax credits.

It’s expected this trend will continue during this year’s tax credit renewals period, and the HMRC has stated that they never ask for personal / payment information via email, so any such messages are likely to be fraudulent.

Read the full story on BBC.co.uk.