Money Statistics: October 2017

18th October 2017 Consumer Collections |

Here is an overview of The Money Charity’s latest statistics for October 2017: Personal debt in the UK People in the UK owed £1.554 trillion at the end of August 2017. This is up from £1.5 trillion at the end of July 2016 – an extra £1029.82 per UK adult. Per adult in the UK that’s an average debt…

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Political conferences lacked focus on debt

18th October 2017 Consumer Collections |

Jane Clack, Money Advisor at free debt advice provider PayPlan, has highlighted a lack of focus on those struggling with debt following the recent political party conferences. Clack believes neither Labour nor the Conservatives delivered strong enough policies that would offer additional support to the clients she works with on a daily basis. “We always…

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92% of scottish council’s universal credit tenants are in rent arrears

18th October 2017 Consumer Collections |

Latest figures released by East Dunbartonshire Council suggest problems with the Universal Credit implementation as they indicate that 92% of its tenants receiving the new benefit have fallen behind with their rent payments. The Department for Work and Pensions (DWP) rolled out Universal Credit in East Dunbartonshire in December 2015. Since then, as The Kirkintilloch…

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Outstanding mortgage debt hits all-time high

18th October 2017 Consumer Collections |

Latest figures published by the Money Charity indicate that outstanding debt on mortgages has hit all-time high in the UK. Continued growth in house prices, along with a small decline in the number of outstanding home loans has led to the highest level of mortgage debt per household ever recorded. In its October Money Statistics report,…

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ICO launches small business helpline

18th October 2017 Commercial Credit Management |

The Information Commissioner’s Office (ICO)  will launch a dedicated telephone service aimed at helping small businesses prepare for new data protection laws. The phone service will add to a package of tools and resources already available for organisations getting ready for the General Data Protection Regulation (GDPR) which comes into effect on 25 May 2018.…

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Arrow Global appoint CFO

18th October 2017 Consumer Collections |

Arrow Global has announced that Rob Memmott, who has been in the business for six years, has decided to step down as Group Chief Financial Officer (CFO). Paul Cooper, currently CFO of the international insurance business Sompo Canopius, will replace Rob as Group CFO and will join the Board when he starts on in January…

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Mental health professionals giving debt advice

18th October 2017 Consumer Collections |

New research published today has found that mental health professionals are being forced to deal with patients’ wider problems rather than treating their illness, as more and more of them struggle with issues such as debt and benefits. A report by the Money and Mental Health Institute reveals mental health professionals – including psychiatrists and…

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Subscription savings tool launches

18th October 2017 Consumer Collections |

Bean a “next-generation price comparison service”, has launched to help so-called JAMs – the Britons who are just about managing – reduce recurring payments and maximise income, saving them hundreds of pounds a year. Bean connects to individual bank accounts and tracks all regular payments, such as direct debits and subscriptions, alerting users to opportunities…

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