Here is an overview of The Money Charity’s latest statistics for September 2018: Personal debt in the UK People in the UK owed £1.592 trillion at the end of June 2018. This is up from £1.545 trillion at the end of June 2017– an extra £900.74 per UK adult. People in the UK owed £1.5955 trillion at the end of July…

The winners of the second annual Credit & Collections Technology Awards were announced last night at the Credit Services Associations’s annual Gala dinner at the Crown Plaza in Stratford-upon-Avon. Eighteen winners from the Awards categories which are covered by four main headings of Credit, Collections, Credit & Collections services and Innovation were revealed. Stay tuned…

The UK’s younger generations have increased the amount of debt they owe over the last five years according to analysis within Arrow Global’s consumer research report(Table 1). Significant numbers of millennials also don’t know how much interest they are paying (Table 3), according to the 2018 Debt Britain research from Arrow Global. The findings reveal…

New research by price comparison website MoneySuperMarket has revealed that although over a third of consumers (39 per cent) use contactless technology to make payments, the vast majority are concerned about introducing alternative payment methods, such as fingerprint or facial recognition, into their day-to-day spending. Despite advances in technology in the banking sector and the…

Last month proved to be a record-breaking one for New Payment System Operator (NPSO) subsidiary, Bacs Payment Schemes (Bacs), the organisation behind Direct Debit and Bacs Direct Credit in the UK. Across August, a huge 580 million payments were processed, smashing the existing record of 573 million, set in December 2015. A new daily high…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business grew in July by 9%, compared with the same month last year. Credit card and personal loan new business together grew by 11% compared with July 2017, while retail store and online credit new business increased by 4%. Second charge…

Almost 10% (9.08%) of UK consumers have been in debt during their life due to the price of household bills, research conducted by Vanquis Bank has revealed. The survey of 1,311 UK consumers, conducted on 3rd August 2018, analysed the factors behind debt, taking into account household bills, rent, overspending, unemployment, medical costs and high…

People are increasingly struggling with ‘smaller but trickier’ debts on everyday household bills, according to new figures from National Debtline, run by the Money Advice Trust. The charity expects the number of calls to National Debtline to hit 189,000 by the end of the year – the highest level in five years – with webchat…

The annual growth rate of consumer credit slowed in July, to 8.5% but remains elevated relative to 2009-12 according to the latest lending figures from the Bank of England. Households borrowed an additional £3.2 billion secured against their homes in July. Net lending has been relatively stable over the past year but this was the lowest…

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