Credit, Collections & Insolvency News
Here is an overview of The Money Charity’s latest statistics for November 2020 Personal debt in the UK People in the UK owed £1,685 billion at the end of September 2020. The average total debt per household, including mortgages, was £60,449 and per adult was £31,798, around 110.3% of average earnings. Net mortgage lending rose by…
Read moreLaw firm Shoosmiths has made an appointment to its corporate restructuring team in Leeds. Lizzy Wood has joined from DLA Piper as Restructuring Partner and will work with Partner Lemi McAuley to help Shoosmiths grow its national restructuring team, as well as establishing its profile in Leeds and beyond. Wood brings experience in big-ticket distressed…
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A new report from the Hospitality and Tourism APPG has highlighted the acute impact of the COVID-19 crisis on businesses in the UK’s coastal and lakeside communities. The Coasts and Waters report shows that the impact of the crisis has been more pronounced on coastal and lakeside regions due to their reliance on tourism, which generates 50%…
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People struggling with money are paying an extra £478 for essentials like energy, credit and insurance because of the poverty premium, according to new research by the University of Bristol. The Fair By Design study of 1,000 low-income households accessing the services of national poverty charity Turn2us, shows that poorer households are spending the equivalent…
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Bank of England (BoE) latest data on lending shows that households repaid £600 million of debt in October, the repayment matches the same amount as September. This means the total repaid since the end of March now stands at £15.6 billion. Credit card debt has fallen by 13% over the past year, with consumers having…
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