Your consumer rights if your airline lets you down

Booking flights seems to get easier and cheaper as the years go by. However, recently, it’s also become a bit of a risky business with the likes of Monarch ceasing to trade and Ryanair cancelling multiple flights. So, what happens if you find yourself caught up in airline drama, whether that’s a delayed flight or something more serious? Compensation for a delayed flight The right to compensation comes via an EU regulation (Regulation 261/2004) so you’re only entitled to it if you’re departing from an EU airport on any airline, or arriving at an EU airport on an EU carrier (including Iceland, Norway and Switzerland). You’re entitled to compensation if your flight was delayed by more than three hours. If your flight gets cancelled and you take an alternative flight then the right to compensation arises if the second flight was two hours later than either your original arrival time or the original flight. There are specific amounts of compensation available under the regulation
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Winners of Summer 2017 Writing Competition Announced

Our first short story writing competition was such a great success that we decided to run another this summer. This has exceeded our expectations. We doubled the number of entries received while the quality of the entries stayed very high. The competition closed at the end of September and after a much deliberation we can now announce the winners of our Summer 2017 competition. The winner and the three runners up all won cash prizes and have their short stories published on our website (read their stories and tell us what you think of them in the comments below). The winning story The Eternal Coin was a striking piece moving the reader through 2000 years of British history in just 2000 words! It won the writer David Stokes £200. As our judges noted: We really liked David’s response to our theme. We’ve probably all looked at items in museums at some point and wondered how they arrived there. In his story, David takes us on an epic journey describing  this. The writing is packed w
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New “Money Matters” Podcast launched!

We re big advocates or people improving their knowledge of financial matters. And the typical level of knowledge is very poor. We ve blogged about this issue before see the related stories below but the reality is that most people are ill-prepared for most of life s major financial decisions. Credit has become so readily available in the last few decades that we hardly give it a second thought. But given that the average indebtedness is around £10,000 per head, that millions of Brits have little if any savings, and millions more have a bad credit rating or serious debt problems there is clearly a need for some light to be shed on the realities of credit. In an attempt to contribute to improving people s knowledge we ve launched a new podcast that we re calling Money Matters and yes this does have at least two meanings. You can find our new personal finance podcast here, or access immediately from the podcast player below. You can also find it on iTunes (search Solution Loans or visit
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UK banks are planning a consumer credit squeeze

The Bank of England has revealed that banks in the UK are planning a credit squeeze on UK consumers. The squeeze is likely to be the biggest since the recession happened in 2008. It comes on the back of the recent rise in interest rates, which is making those with mortgages, credit cards, personal loans and other unsecured credit very nervous indeed. So, what is actually happening in the UK credit market and should we be worried? According to The Money Charity the average debt per household in the UK (including mortgages) is currently £57,490. 35% of UK households have no savings whatsoever and a large proportion of people are walking a fine line between getting by and struggling. Credit has become a key part of life for many, which is why the idea that it could become less available and more expensive is making a lot of people very nervous. How did we get to this point? In 2009, the Bank of England cut interest rates to 0.5%, the first time in the Bank’s existence that the rate ha
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How will the proposed energy price cap work?

Energy prices are a touchy subject for many of us. British Gas, for example, announced in August that it was increasing its prices by 12.5% from this autumn. For typical households on a dual fuel tariff that’s an increase of around £75 a year. It seems that there is a never-ending stream of bad news about energy prices with the big six following in each other’s footsteps and repeatedly giving consumers bigger bills to swallow. So, when it was announced that the government was considering an energy price cap, there were sighs of relief right across the country. But what does the new energy price cap actually mean for British consumers and are you likely to benefit? What is the energy price cap? It will mean that around 18 million people in the UK will see their bills reduced by roughly £120 a year. Those who are affected are consumers who have not ever switched i.e. the most loyal customers. It’s these people who have been with a supplier so long that they have ended up on the
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Why a bad credit rating could damage your personal relationships

According to a 2016 NerdWallet survey, almost 50% of people said that they wouldn’t date someone with bad credit. And the better educated the demographic, the more that figure increased. We live in an age of app dating when decisions about potential appeal are apparently based very much on looks. Eligibility comes into play in terms of personality and hobbies but there isn’t that big a focus on financial compatibility. Whether it’s a reluctance to mention money at an early stage because it feels like it’s “bad taste” – or something else – the way that we date today ignores this huge elephant in the room. But, as the NerdWallet survey shows, it’s crucially important to many people. Does money matter? NerdWallet’s survey was carried out last Valentines Day and provided some crucial insights into where money and credit intersect with love and romance. 60% of women, for example, said that a partner’s financial situation was important to them, as compared to 45% of me
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