Money Box

A funeral plan company with more than 13,000 customers has gone bust leaving thousands of people without the plan they paid for. One Life Funeral Planning Limited was just 1 of around 40 firms which were not approved by the Financial Conduct Authority in July 2022 when it took over regulation of funeral planners. Attempts to find a regulated firm to take over its customers failed and last November its directors put it into administration. What can its customers do?Christine Farnish, a former non-executive director at the energy regulator Ofgem, has told Money Box the amount of credit held by energy companies is a "real problem" that needs looking at. It comes after we revealed last week that suppliers held more than £8bn of customers' money in the form of credit on their accounts in the first three months of this year. Ofgem said protecting customers is its top priority and that it encourages suppliers to help customers spread the cost of winter over a full year to help them manage their bills. Previousl