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 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…

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…

Londoners are more likely to be struggling with debt than the rest of the UK despite average higher incomes. That is according to London in the Red, a new report from StepChange Debt Charity, that reveals 100,000 Londoners sought their debt advice, meaning one in six of its clients last year came from London. The…

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…

A fear of discussing death is leading to a lack of later life planning across the nation, as two fifths (41%) of people haven’t put any financial plans including wills, funeral plans and lasting power of attorneys in place. New research by the Co-op has launched the biggest ever survey into death, dying and bereavement. The survey which received…

The total number of county court judgments (CCJs) registered against consumers in England and Wales fell year-on-year for the first time in five years during the first half of 2018, according to figures released by Registry Trust. During Q1 and Q2 2018, 571,555 judgments were registered against consumers in England and Wales, falling four percent…

Personal insolvencies are on track to hit 105,000 per annum by 2022, breaking highs last seen six years ago, according to the latest econometric forecast from Arrow Global’s ‘Debt Britain 2018’ research. Analysis shows that personal insolvencies have been on the increase since 2015 and rising interest rates on the back of the Bank of…

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