Debt news – 13 June 2021 · Debt Camel

My select of final week’s news is Klarna’s new app. If you don’t suppose it appears to be like necessary, glance once more…

Debt news

DRO regulation changes laid before Parliament gov.united kingdom: These are adverse process statutory tools so, except the order is “prayed against” in Parliament – which is very not likely – they’ll come into drive on 29 June 2021.

Equifax adjustments credit score ratings at the quiet my article – Equifax has modified to scoring out of 1000, no longer 700 – however ClearScore will take longer to make use of new ratings.


Klarna launches game-changing new shopping feature, bringing interest-free shopping to ALL online retailers Klarna: Klarna customers can now store the use of pay in 3 at any on-line store, without reference to whether or not they’re partnered with Klarna or no longer, at once from the app

  • Klarna takes on UK credit card providers with feature that breaks up online payments Computer Weekly: “Klarna is offering account-based payments and therefore bypassing the card networks”
  • Klarna invades Amazon, eBay and more with new buy-now-pay-later virtual cards AltFi: Klarna’s new app manner that each one on-line shops, a lot of whom would most probably have by no means teamed up with the fintech, are powerless to prevent their shoppers from the use of the BNPL carrier. Klarna is, relatively actually, in all places. Whether the likes of Amazon or eBay, that have their very own BNPL choices, glance to dam Klarna’s digital playing cards within the coming weeks… we’ll have to attend and spot.
  • Klarna claims to be better than credit cards – but is its argument flawed? there’s no pastime on bank card purchases for 56 days on an ordinary card. That manner for those who break up your cost on your card supplier in 3 the best way Klarna does, you’re saving your self a grand general of 0.2% pastime to your purchases on an ordinary 20% bank card APR.
  • (*13*) Times (paywall): Klarna, the purchase now, pay later lender, has raised extra capital in a deal that values it at $45.6 billion, which is bigger than Barclays or NatWest and $14 billion greater than on the time of its final fundraising in March.

Increasing England student loan repayments ‘would save government £4bn a year’ Guardian: chopping the graduate reimbursement threshold from £26,000 to £19,000 would lead to many extra graduates making upper contributions over the 30 years earlier than their loans are written off.”

Benefits & different news

Cut of £40m in help for tenants will ‘drive up homelessness’ Guardian: Renters’ teams stunned as investment in England and Wales for hire shortfalls or deposits is reduce to underneath pre-pandemic ranges

The realities of everyday life on the benefit cap and two-child limit CPAG: no quantity of cautious budgeting may break out from the truth that they weren’t receiving a vital percentage in their get advantages entitlement on account of the 2-kid prohibit and the convenience cap. For many, your best option used to be to tackle extra debt. 

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