Interest on payday loans will be capped at 0.8% a day from January 2015
The Financial Conduct Authority (FCA) said it plans to limit payday loan interest to £24 for £100 loan over 30 days

Payday lenders will not be able to charge more than 0.8% interest a day from January 2015. That's been confirmed today (11th November) by the regulator, the Financial Conduct Authority. That works out at £24 for every £100 borrowed over a month. Importantly, if you borrow from a payday lender you will never owe more than twice the amount you borrowed.

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The government plans to give consumers new rights to a refund from rogue traders
New consumer rights laws will give people up to 90 days to cancel a contract if they’ve been misled or bullied into signing.

Have you ever been misled into signing up for something? Or have you found that your elderly parents have been pressurised or bullied and bought something they didn’t need or want? From October 1st 2014, you have the right to cancel the contract within 90 days of taking it out and get a full refund. You’ll also get longer to cancel if you buy online or by mail order and decide you've changed your mind.

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10 things you need to know about your credit rating
If you want to know how to improve your credit rating or how to get hold of a copy of your file, read my guide

Have you seen a copy of your credit report? If not, you’re not alone. Many people don’t see theirs because they don’t think they need to or because they’re worried about what they might find. But it’s well worth getting hold of a copy. And if you’re credit rating isn’t very good, what can you do to improve it?

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The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice.
You should always obtain independent financial advice.