Credit, Collections & Insolvency News
Inflation in the UK increased to the highest rate for three decades in January as the impact of rising energy bills fed into a wide range of goods and services, adding to the squeeze on household living standards according to the latest Office for National Statistics (ONS) said the consumer price index measure of inflation increased…
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UK wage growth failed to keep pace with the rising cost of living between October and December, Office for National Statistics (ONS) figures show. While wages increased, when taking inflation into account pay was down 0.8% compared to a year earlier. Employees’ regular pay, excluding bonuses, grew by 3.7% between October and December from a…
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Almost 100,000 Self Assessment customers have used online payment plans to spread the cost of their tax bill into manageable monthly instalments since April 2021, HM Revenue and Customs (HMRC) has revealed. Once a customer has filed their 2020 to 2021 Self Assessment tax return, they can set up a Time to Pay arrangement for up to…
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Enforcement market integrator, Just has announced that it has appointed Alan Wood, as a Strategic Account Director to the public sector. Wood has been in enforcement for over 21 years working on a variety of debt types. Wood is one of 15 fellows of the British Parking Association as well as the Vice-Chair of both…
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Manchester-based financial services provider MoneyPlus Advice has appointed J3 Debt Solutions to its growing network of Appointed Representatives amid rapid increases in the cost of living for consumers. The MoneyPlus Advice Appointed Representative (AR) Network works with smaller debt advice firms to support consumers out of financial difficulties that may have been exacerbated throughout the…
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New figures released by the Finance & Leasing Association (FLA) show that FLA members across the asset finance, consumer finance and motor finance markets provided £132 billion of new business in 2021, 15% higher than in 2020. Of this total, £20 billion went to SMEs and £47 billion was provided by non-bank lenders. Stephen Haddrill,…
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Millions of people renting homes have no insurance safety net in place, prompting fears that many would be unable to pay their bills if they were to fall critically ill, lose their job or the person they live with was to pass away according to new research by Scottish Widows. The research found that only 5%…
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A perfect storm of inflation, increased energy costs, and the impact of interest rate and tax rises is contributing to what is being widely referred to as the cost of living crisis. Charities have said that the real term cost on customers is pushing many into serious financial difficulties and some even risk homelessness. Banks,…
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The challenging direction of travel for the UK’s finances continued in the closing months of the year, with few indications of potential positives and some previously hopeful signs easing off. Evidence of the challenging winter ahead for household budgets continued to be seen as the UK came towards the end of 2021. With price rises…
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