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…

New research from Citizens Advice reveals an estimated 4 million people in the UK have been charged for phones they already own, paying a total of £490 million extra on their last contracts. Three of Britain’s biggest mobile phone networks – EE, Three and Vodafone – routinely charge customers extra for their handsets after they…

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…

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has appointed Vineeta Manchanda and Rebecca Wilkie as members of its board of trustees. Manchanda and Wilkie will replace Claire Whyley, Merrick Willis and Sian Williams on the board whose terms of service have come to an end. Manchanda has served as…

Josephine (Josie) Broadstock, of Warrington, together with Robert Jones, 39 of Stockport, have been banned from being company directors following an Insolvency Service investigation. Husband and wife, Josie and Mark Broadstock, along with Robert Jones, were directors of Smooth Financial Consultants Ltd (Smooth). The company was incorporated in June 2005 and traded as The Debt…

Energy regulator Ofgem has announced its price cap measures which it says will benefit over 11 million more households on poor value default tariffs and protect them from being overcharged. The announcement follows Parliament passing the Government’s Domestic Gas and Electricity (Tariff Cap) Act, which became law on July 19 and gives Ofgem a duty…

A report by the National Audit Office (NAO) has revealed that problem debt costing the economy £847 million a year. The report has found that  £248m of that sum came from increased use of housing and health services Problem debt – defined as the inability to pay debts or household bills – affects an estimated…

New research from Royal London reveals the average cost of a funeral is £3,757, with costs having stabilised this year (£3,784 in 2017). The Royal London National Funeral Cost Index, in its fifth year, shows that London has consistently been the most expensive region in the UK for a funeral, with the average funeral costing…

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