Loans

The UK's largest credit reference agency Experian has changed the way it calculates people's credit scores – meaning many scores suddenly dropped or increased overnight. We've had many people contact us about this, yet the big picture is you don't need to worry – this doesn't impact how lenders will assess you.

Almost 4,000 borrowers are due a share of £1.7 million after CashEuroNet UK LLC, trading as QuickQuid and Pounds to Pocket, lent some customers more than they could afford to repay.

More than 147,000 borrowers are due a share of over £15.4 million after Dollar Financial UK (Dollar), trading as The Money Shop, Payday UK, Payday Express and Ladder Loans, lent many people more than they could afford to repay.

Worried former graduates whose loans are owned by Erudio have taken to our forum to raise questions about when their loans will be wiped, whether they can pay them off early, and the impact this will have on their credit files. We answer these questions below.

A new service offering simple savings accounts and "affordable" loans to military personnel, who can sometimes struggle to get access to financial products, has been launched by credit unions.

People in England and Wales with low levels of debt will now be able to avoid bankruptcy, which can have a serious impact on future finances, as the Government has increased the minimum level of debt that can force people into this last resort option to £5,000 from £750.

Payday loan ads could be banned from being shown on kids' TV – something which MoneySavingExpert.com has campaigned for – as the broadcasting watchdog has this week launched a consultation on the issue.

PPI mis-selling victims will be subject to a time-bar on claims – as we've been warning over the past few weeks – under plans revealed by the regulator this morning.