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…

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…

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…

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…

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