The number of debt decrees registered against Scottish consumers rose by six percent more than in the third quarter of 2017. During Q3 2018, 5,668 debt decrees were registered against Scottish consumers. A further one percent increase on last year’s historic Q3 high in the average value of small claims and summary cause decrees set a…

New research from American Express has revealed that consumers are set to spend an average of £1,206 on everything from tinsel to turkey this year, a Santa-sized £60 billion across the nation. Gifts are the top spend items and even though there’s no place like home for Christmas, travel is still on the mind of…

A new survey of StepChange Debt Charity clients shows the hidden housing problems caused by debt, particularly in the private rented sector. StepChange says these are so complex that the government should review the suitability of the private rented sector for housing vulnerable people. The charity is particularly worried about the position of clients in…

According to ender Welendus, 15% of short-term loan applications are being made to cover household bills. 42% of loan requests were to pay for surprise bills, Of the 35,000 loans peer-to-peer lender Welendus has received this year, 5,000 have been to meet the cost of regular bills. The FCA-approved ethical lender has revealed that 2,400…

New figures released by the Finance & Leasing Association (FLA) show consumer finance new business fell by 1% in September, compared with the same month last year. In Q3 2018, new business grew by 5% compared with the same quarter in 2017. In September, credit card and personal loan new business together grew by 4%…

The interim findings of the Financial Conduct Authority’s (FCA) Mortgage Market Study have highlighted the challenge of mortgage prisoners. In addition, the report says long-term and lifetime lending is another concern and that the FCA is looking to firms to use their common sense to make sure they’re matching the right products to the right…

Despite the common assumption that the younger generation is more tech-literate, three in 10 (31%) 16-24-year olds have been a victim of online shopping fraud, compared with only 12% of over 55s according to Shieldpay, the secure payments provider. Younger victims of online fraud are also facing more significant losses compared to older victims. Those…

The Insolvency Service has published the latest personal insolvency statistics for Q3 (July to September 2018) for England and Wales. The statistics show that total personal insolvencies fell by11% from a six-year high in Q2 2018 and are 2% lower than in the same quarter in 2017. This was driven by a decrease in individual voluntary…

The Government has that it will introduce a No-Interest loan scheme and breathing space plans as part of the Autumn budget announcement. Responding to the news The Money Advice says it ‘welcomes action’ on tackling problem debt, including the new details of the government’s Breathing Space scheme, plans to pilot a no-interest loans initiative and…

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