Credit, Collections & Insolvency News
New figures released by the Finance & Leasing Association (FLA) show that consumer finance new business held steady in August, and grew by 1% in the twelve months to August, compared with the same period last year. Retail store and online credit new business in August was at a similar level to the same month…
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Debt-related stress negatively impacting mental health of over 14 million consumers according to an independent survey of over 2,000 adults commissioned by KnowYourMoney.co.uk. The research has found that 70% of consumers are in some form of debt, with 25% of those saying feeling their debt spiralling out of control and 41% stating it is causing…
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New research from equity release lender, more2life, reveals that the proportion of over-55s who have been in debt in the last five years and have borrowed using credit cards has significantly increased over the past 12 months, from 37% in 2018 to 54% in 2019. The growing levels of unsecured debt among over-55s is also…
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Over three quarters (76%) of freelancers have experienced mental health issues as a result of late paying clients in the last 12 months, according to new research. In its latest report Late Payments: The Cost to Business and Our Health, Hitachi Capital has investigated the mental health impact of late payments on the UK’s SMEs…
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To mark World Mental Health Day, four leading banks have announced they are backing Money and Mental Health’s campaign to ‘Stop the DebtThreats.’ Barclays, Monzo, Nationwide and Metro Bank have joined over 30 charities in calling on the government to change out-of-date rules on debt letters, to make them less intimidating, and more supportive to…
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